UNEMPLOYMENT AUSTRALIA LAST 5 YEARS| Declination of self



UNEMPLOYMENT IN AUSTRALIA LAST 5 YEARS

Introduction

In the modern era, people need suitable job as they can lead their life in the appropriate way. The people receive proper education; however, they do not get the scope of working. Hence, the unemployment creates the major problem in Australia. The employment of the people helps to increase the economic condition of the country. However, in the country of Australia, the people are not suffering from unemployment. Few people are there, who are suffering from the problem of unemployment. In the recent days, it is seen that, the population of the country is very high and the government of the country is not able to manage it in the effective way.

As per the report of the Australian Bureau of Statistics (ABS), it is seen around 5.7% people of Australia are suffering from the problems of unemployment. It is also seen that, the government of Australia are able to decrease the rate of unemployment. It is seen that around 2.2% people are able to get job. On the other hand, it is also seen that, due to population, around 61.4 % people were suffering from unemployment in the year of 2013.  However, in the year of 2015, it is seen that the government of Australia is able to adjust their situation by increasing the industries in the country. They have covered around 5.80% (abc.net.au, 2017).

The entire study has focused on the unemployment rate of Australia in the last five years. It will emphasise on the current status of unemployment of Australia. In order to analyse the rate of employment in the effective way, the contract model and Hutt’s classical Theory of Unemployment have been elaborated. As the economical growth of the country depends on the business or employment rate of this country, the study of unemployment can help to bring success for uplifting the standard of country in the world.

The thesis statement of this study is to research on unemployment and try to develop the condition for increasing the economical status of Australia.

Discussion regarding the unemployment of Australia

Overview of the unemployment in Australia

Australia has faced huge problems for unemployment during 2014. It is seen that among 1000 people, 440 people were suffering from the problem of unemployment in the year of 2014. As per the report of labour force, around 400 women are suffering from unemployment (aph.gov.au, 2015).

However it is seen that, they are able to cover it in the efficient way. The labour force expresses the system for measuring the unemployment rate in the country of Australia. It is seen that, the long-term unemployment derives the erosion of the society. According to Morris & Wilson (2014), people, who are not working around 52 weeks, are considered as the people of long-term unemployed. The labour force has provided the report that, among 1000, 50-100 people were suffering from unemployment in the year of 2013. Hence, it indicates around 1.45% people were jobless (aph.gov.au, 2015).

It is seen that, the labour force of Australia, try to build a framework for decreasing the rate of unemployment. It has been observed that, the population is one of the reasons of unemployment. As per the population, the labour force tries to identify the active and inactive people. In the active genre, there are two categories like unemployed and employed. It helps to get the rate of unemployed people in the country of Australia.

In the year of 1990s, the great downfall of economic condition of Australia has been seen. Due to global financial crises, the people again faced problems in the year of 2009. In 2007-2008, around 0.6% people were suffering from unemployment. On the other hand, around 1.0% people faced the unemployment problem in 2011. It is also seen that, in 1994, around 38% men and 28% women were suffering from the problem of unemployment. In case of long-term unemployment, around 21% men and 19% women face the problems. As per the report of the Australian Bureau of Statistics (ABS), around 116700 people were suffering in the year of 2010-2011 (abs.gov.au, 2011).

 

It has been observed that, the people of Australia have faced immense difficulties like living problem, economical declination due to unemployment. Proper employment ensures the economical growth of the country. If the country is able to decrease the unemployment rate, they can increase their standard in the world. In case of Australia, though they have faced the unemployment problems, they are able to cover it up in the effective way. In order to cover up the unemployment problems, they have introduced the new companies of different industries.

The aboriginal people of Australia had faced the unemployment problems. In Western Australia, the unemployment rate was around 25.1% in the year of 2014-15. Around 31.8% of aboriginal people faced the unemployment related difficulties. It has been noticed that, around 33.7% people who belonged to 15-24 years, faced unemployment related difficulties in the year of 2014-2015 (abs.gov.au, 2015).

As per the viewpoint of Milner et al. (2013), the aboriginal people of Australia do not receive the equal power. Hence, most of the aboriginal people were jobless in Australia in 2014-15. The labour force of Australia helps to get the clear perception about the rate of unemployment in Australia. They have arranged survey for getting the proper outcome about unemployment.

Recent status of unemployment in Australia

The unemployment rate of Australia has stood at 5.6 % in the year of 2017. It is also seen that the unemployment rate has increased from 1100 to 730600. In this situation, they are looking for the part time job. As asserted by Milner, Page & Lamontagne (2014), Australia is able to decrease their unemployment rate in the effective way.  In July 2017, the unemployment rate was increased around 5.7%. It is observed that, in January 2017 to April 2017, the unemployment rate was around 5.9%. The economy of Australia has added around 54000 jobs, however, around 1100 people are still jobless (tradingeconomics.com, 2017).

As per the report of ABS, the very long-term unemployment indicates the people are not working for 52 weeks or more than that. On the other hand, the very long-term unemployment suggests the people, who are not working for 104 weeks or more than that. In Tasmania, it has been observed that around 3.9% people are suffering from unemployment in August 2017. In 2015-16, the rate of unemployment was around 2.5 % (tradingeconomics.com, 2017).  As commented by An et al. (2017), in the recent days, the Australian people are able to manage the problem of unemployment in the effective way. They have increased the number of companies in the country. If the country is able to increase the number of organisations, it ensures the downfall of the rate of unemployment.

For the last five years, Australia did not face huge problem of unemployment. However, in case of aboriginal people, the discrimination is seen. The aboriginal people do not receive equal power in Australia. It is noticed that the rate of unemployment were in the high level among the people, who belonged to 15-24 years. The rate of unemployment was around 31.8% in the year of 2014-15. For male candidate who belonged to 25-34 years, the unemployment rate was around 18.9%. On the other hand, around 19.9% aboriginal female people had undergone the problems of unemployment (abs.gov.au, 2015).

As mentioned by Furuoka (2015), as the economic condition of Australia is very high, they are able to remove the problem of unemployment in the efficient way. The Australian people are able to adjust the unemployment status in the effective way. It is observed that, in 2013, around 1100 to 730600 people were jobless. Therefore, the jobless people try to get the part time job. Around 4900 to 234200 people have joined in part time job.  As suggested by Hajkowicz et al.  (2016), in the year of 2015, it is monitored that, around 18.2% people faced unemployment problem over a year. On the other hand, 16.3% people suffered from unemployment problem from six months to 1 year.

Figure 10: Young jobseekers on long durations of unemployment

(Source: cis.org.au, 2015)

In order to measure the unemployment rate, the formulas are followed by-

Youth Unemployment Rate = Young Unemployed People/ Young Labour Force

Young Unemployment Ratio = Young Unemployed People/ Young Population

The above mentioned formula helps to measure the rate of unemployment of the country. As the economic standard of Australia high very high, the people are able manage the situation of unemployment. In order to manage the situation of unemployment, the government of Australia has introduced the legislation like the Unemployment Relief Act, 1936. According to the legislation, the ever people need to have job as they can earn their daily living in the appropriate way (legislation.gov.au, 1936). As the government of Australia is concerned about their economical condition, they are able to remove the problems of unemployment. In 2017, the unemployment rate is around 5.6% in the island of Tasmania. In this case, they develop new entities, as they can solve the problem of unemployment. Thus, the Australian people are able to handle the situation of unemployment.

Analysing the research of unemployment of last 5 years in Australia

Australia faces the unemployment related problems and at the same time, they are able to remove the difficulties in the efficient way. In the opinion of Fromentin (2013), the Australian government has maintained their economical growth in the effective way. It is seen that, in the year of 2014, around 440 people among 1000 were jobless. However, they are able to recover the state in the appropriate way. It is observed that in 2017, the unemployment rate is around 5.7%. The government of Australia has introduced new enterprises for decreasing the unemployment rate of the country.

On the contrary, Jakubowicz et al. (2014) stated that, Australian government follows different theories classical theory, the theory of idle resources and many others in order to resolve the difficulties of unemployment. W.H. Hutt has written the monograph in the year of 1939. In the theory of unemployment, Hutt highlights the factors of unemployment like enforced, aggressive idleness, valueless resources, participating, strike, pseudo-idleness and many others. In Australia, it has been noticed that, the problems of unemployment have occurred due to the economic condition of the market. Often, it is monitored that, few people are not interested in work. Hence, they are counted as the unemployed people. However, in case of aboriginal people, they are suffering from the problems of unemployment. Around 33.8% people were jobless in the year of 2014-15. The government of Australia has developed the legislation of the Unemployment Relief Act 1936 for removing the unemployment rate. Therefore, the government of Australia is able to solve the unemployment related problems.

According to Crowley et al. (2013), last 5 years, Australia did not face huge crises due to unemployment. The global financial crises in 2013 have created employment related problems. However, the Australian government is able to remove the crises by introducing new entities in the country. The business organisations try to expand their business as they can recruit more people in their enterprises. Therefore, they can decrease the unemployment rate in the country of Australia.

On the other hand, Lee & Parasnis (2014) commented that, the Australian government has increased the number of ventures in the country. It indicates that, the government wants to decrease the rate of unemployment. In order to develop the new ventures, the Australian government follows the classical theory of Hutt. As per Hutt’s theory, often, the authority of the organisations has low capital for running the business. In this case, the business organisation needs hire shareholders for developing their business. If they can hire the shareholders, they would be able to recruit more people. It helps to decrease the rate of unemployment in Australia. Hence, in 2016, around 250000 person people have got job. The Australian government is able to recover the problems of unemployment in the effective way. In July 2017, around 28000 people got job. Therefore, Australia does not face tremendous problems due to unemployment.

In the opinion of Atalay, Kim & Whelan (2014), the contract model is the effective way of reducing the unemployment in Australia. It describes the mechanism for running the business. The contract model helps to understand the market segment and the status of the market. If the business organisations provide proper remuneration to the employees, they would enjoy the work. They will not think of resigning the job. Hence, it would help to decrease the rate of unemployment in Australia. It has been observed that, around 253000 people have got job in the year of 2016. The ABS stated that around 2.2 % have risen for reducing the problems of unemployment. As per the contract model, the employees receive proper training. If they are able to receive accurate training, the employees can do their job in the effective way. Therefore, it helps to reduce the number of unemployment in Australia.

On the contradiction, Furuoka (2014) stated that, in 2014, the Australian people had faced unemployment related problems. Hence, the aboriginal people of Australia do not get scope for working. The Australian people create discrimination with the aboriginal people. In order to solve the problem of discrimination, the Australian Government has introduced the legislation like the Unemployment Relief Act 1936. The legislation helps to reduce the rate of unemployment in Australia.

It has been monitored that, in 2017, the unemployment rate in Australia is around 5.6%. However, in 2014, the rate was around 33.8%. Therefore, the Australian government has known the strategy like training, increasing entities and many others for reducing the problems of unemployment.  As the economical growth depends on the business of the country, the Australian people try to develop their skill as per the requirement of the market. If the people are able to develop their skills, it helps to reduce the problems of unemployment. The labour force has arranged survey for getting the specific data about unemployment. The unemployment prevents the economical growth of the country. Hence, the country Australia tries to solve the problem of unemployment in the appropriate way for developing the financial condition.

The effects of unemployment in the country of Australia

The unemployment affects the economy of the country. As per the viewpoint of Waters et al. (2014), if the country is not able to manage the problems of unemployment, they would not be able to hold their position in the contemporary market. The reasons of unemployment are social problems, industrial disputes, labour exploitation, political instability and many others. The effects of the unemployment are followed by-

Economic declination

The business organisations help to increase the economic condition of the country. If the authority of the ventures is able to develop the business in the appropriate way, it ensures the economical growth of the country. As per the viewpoint of Furuoka (2014), the economical growth depends on the employment of the country. If the country is not able reduce the problems of unemployment, they would face the major economical difficulties. In order to live in the perfect way, the people need to have job. If they do not have suitable job, the people are not able to lead their life easily.

However, in case of Australia, they are able to make up their situation of unemployment in the effective way.  In Australia, it has been observed that in 2017, the number of unemployed people is around 5.7%. However, they are able to make up above mentioned percentage. As the Australian government has introduced new entities, it provides the scope of erasing the unemployed people in the country.

Declination of self esteem

Unemployment decreases the self esteem of the people. As per the viewpoint of Hajkowicz et al. (2016), in order to live life in the appropriate way, proper job is necessary. Many times it is seen that, unemployment grabs the specific part of the country. In this situation, the people choose the dishonest way like stealing for earning. Hence, they are not aware of their esteem as the sufficient money is needed for living. The unemployment reduces the morality among the people. In order to collect daily meal, people need job.

However, in case Australia, it is noticed that in 2014, among 1000, 440 people were jobless. The Australian government is able to cope up with this situation. In 2016, the number of unemployed people was around 200 or 300. In the recent year, unemployment rate is around 5.7%. As the Australian government is able to adjust the situation by innovating new ventures, economic declination is not seen in the country.

Mental issues

In the opinion of Lee & Parasnis (2014), unemployment creates mental disorders. When people face unemployment, they are not able to find out the way of earning. In this situation, they feel depressed. The depression creates various kinds of diseases like high pressure, hypertension and many others. In case Australia, people do not face the problem of unemployment. As the Australian government is able to manage the industries in the efficient way, it helps to decrease the number of unemployed people in the country.

The economic standard depends on the employment of the country. If the unemployed people are increased, it indicates the declination of economic standard. In Australia, people do not face the major difficulties in unemployment. It is monitored that the Australian government is able to manage the industries in the efficient way. Therefore, they are able to decrease the rate of unemployment day by day. In the year of 2017, the unemployment rate is around 5.7%. It helps to develop advanced technology in the country.

As per the thesis statement, it has been observed that, in 2014, around 410 people face the problem of unemployment. However, the Australia has tackled the situation in the effective way. Therefore, in 2017, the unemployment rate is around 5.7%. The classical theory of Hutt assists to get the clear conception about unemployment in Australia. Hutt’s theory provides the solution for decreasing the rate of unemployment. The contract model helps to run the business in the appropriate way. As Australia has introduced new entities, it assists to increase the economic standard of the country. Thus, the thesis statement has been proved here. If the country is able to decrease the rate of unemployment, they can uplift the economic condition in the contemporary society.

abc.net.au (2017), Unemployment jobs data, Retrieved 29 Sep 2017 from: http://www.abc.net.au/news/2017-08-17/unemployment-jobs-data-abs-july-2017/8816206

abs.gov.au (2011), Long-term unemployment, Retrieved 30 Sep 2017 from: http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4102.0Main+Features20Sep+2011

abs.gov.au (2014), Labour force characteristics, Retrieved 30 Sep 2017 from: http://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/4714.0~2014-15~Main%20Features~Labour%20force%20characteristics~6

An, Z., Ball, L., Jalles, J., & Loungani, P. (2017). An Assessment of the IMF’s Forecasts of Unemployment for Advanced and Developing Economies, 45(3), 122-130, Retrieved from: http://unassumingeconomist.com/wp-content/uploads/2017/04/Assessment-of-IMF-Unemployment-Forecasts-An-Ball-Jalles-Loungani-workshop-version.pdf

aph.gov.au (2015), Parliament departments, Retrieved 29 Sep 2017 from: http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1516/Quick_Guides/Unemployment

Atalay, K., Kim, W. Y., & Whelan, S. (2014). The Decline of the Self‐Employment Rate in Australia. Australian Economic Review, 47(4), 472-489. Retrieved from: https://ses.library.usyd.edu.au/bitstream/2123/8925/1/ECON%202013-03.pdf

cis.org.au (2015), Youth unemployment in Australia, Retrieved 28 Sep 2017 from: https://www.cis.org.au/app/uploads/2015/11/rr7.pdf

Crowley, L., Jones, K., Cominetti, N., & Gulliford, J. (2013). International Lessons: Youth unemployment in the global context, 87(6), 45-80. Retrieved from: https://www.trustforlondon.org.uk/wp-content/uploads/2013/01/International-Lessons-Report-January-Final1.pdf

Fromentin, V. (2013). The relationship between immigration and unemployment: The case of France. Economic Analysis and Policy, 43(1), 51-66. Retrieved from: https://www.researchgate.net/profile/Vincent_Fromentin/publication/259222262_The_Relationship_Between_Immigration_and_Unemployment_The_Case_of_France/links/5412a3360cf2fa878ad3a7f3/The-Relationship-Between-Immigration-and-Unemployment-The-Case-of-France.pdf

Furuoka, F. (2014). Are unemployment rates stationary in Asia-Pacific countries? New findings from Fourier ADF test. Economic research-Ekonomska istraživanja, 27(1), 34-45. Retrieved from: file:///C:/Users/win-7/Downloads/Are_unemployment_rates_stationary_in_Asia_Pacific_countries_New_findings_from_Fourier_ADF_test.pdf

Furuoka, F. (2015). Unemployment Hysteresis in the” Nordic Kitten”: Evidence from Five Estonian Regions. Panoeconomicus, 62(5), 631. Retrieved from: http://scindeks-clanci.ceon.rs/data/pdf/1452-595X/2015/1452-595X1505631F.pdf

Hajkowicz, S. A., Reeson, A., Rudd, L., Bratanova, A., Hodgers, L., Mason, C., & Boughen, N. (2016). Tomorrow’s digitally enabled workforce: Megatrends and scenarios for jobs and employment in Australia over the coming twenty years. Australian Policy Online, 56(5), 58-100, Retrieved from: https://www.researchgate.net/profile/Claire_Mason/publication/299953345_Tomorrow’s_digitally_enabled_workforce_Megatrends_and_scenarios_for_jobs_and_employment_in_Australia_over_the_coming_twenty_years/links/570728ee08aefb22b0934be9.pdf

Jakubowicz, A., Collins, J., Reid, C., & Chafic, W. (2014). Minority youth and social transformation in Australia: identities, belonging and cultural capital. Social Inclusion, 2(2), 56-100. Retrieved from: https://www.cogitatiopress.com/socialinclusion/article/viewFile/162/105

Lee, G. H., & Parasnis, J. (2014). Discouraged workers in developed countries and added workers in developing countries? Unemployment rate and labour force participation. Economic Modelling, 41(5), 90-98. Retrieved from: http://www.monash.edu/business/economics/research/publications/2014/1514workersleeparasnis.pdf

legislation.gov.au (1936), Unemployment relief Act 1936, Retrieved 30 Sep 2017 from: https://www.legislation.gov.au/Details/C1936A00013

Milner, A., Kavanagh, A., Krnjacki, L., Bentley, R., & LaMontagne, A. D. (2013). Area-level unemployment and perceived job insecurity: evidence from a longitudinal survey conducted in the Australian working-age population. Annals of occupational hygiene, 58(2), 171-181. Retrieved from: http://dro.deakin.edu.au/eserv/DU:30061374/lamontagne-arealevel-2014.pdf

Milner, A., Page, A., & Lamontagne, A. D. (2014). Cause and effect in studies on unemployment, mental health and suicide: a meta-analytic and conceptual review. Psychological medicine, 44(5), 909-917. Retrieved from: https://www.researchgate.net/profile/Anthony_LaMontagne/publication/247770796_Cause_and_effect_in_studies_on_unemployment_mental_health_and_suicide_A_meta-analytic_and_conceptual_review/links/54bc72910cf29e0cb04bf70a.pdf

Morris, A., & Wilson, S. (2014). Struggling on the Newstart unemployment benefit in Australia: The experience of a neoliberal form of employment assistance. The Economic and Labour Relations Review, 25(2), 202-221. Retrieved from: https://s3.amazonaws.com/academia.edu.documents/34111006/struggling_on_Newstart.pdf?AWSAccessKeyId=AKIAIWOWYYGZ2Y53UL3A&Expires=1506924470&Signature=gS6ewVPuzgDk3mjfrPYag3Fp%2FsI%3D&response-content-disposition=inline%3B%20filename%3Dstruggling_on_Newstart.pdf

tradingeconomics.com (2017), Unemployment rate, Retrieved 30 Sep 2017 from: https://tradingeconomics.com/australia/unemployment-rate

treasury.tas.gov.au (2013), Long-term unemployment, Retrieved 30 Sep 2017 from: http://www.treasury.tas.gov.au/Documents/Long-Term-Unemployment.pdf

Waters, L., Briscoe, J. P., Hall, D. T., & Wang, L. (2014). Protean career attitudes during unemployment and reemployment: A longitudinal perspective. Journal of Vocational Behavior, 84(3), 405-419. Retrieved from: https://www.researchgate.net/profile/Douglas_Hall2/publication/260837932_Protean_career_attitudes_during_unemployment_and_reemployment_A_longitudinal_perspective/links/0deec537bb407adf49000000.pdf


UNEMPLOYMENT AUSTRALIA LAST 5 YEARS

Is this question part of your assignment?

Essay Paper has the leading writers who are ready to help you with your assignment today.

We are very confident in the quality of work that we offer you 100% Money back guarantee

Header Button Label: Get StartedGet Started