Unemployment in Australia Free Essay, Term Paper and Book Report
A person is classified as employed when he or she has paid work for more than one hour per week. The exception occurs in the case of family members working without pay in the family business. Full employment occurs when cyclical unemployment associated with weak expenditure and recession is avoided, and where a fairly low level of natural unemployment is tolerated. The acceptable target for the unemployment rate is currently around 6-7 %. ( Morris:2000, P 272 )Australia did well during the 1980s in creating employment opportunities. Unemployment declined steadily to reach only 6.2% for 1989-90. A severe recession started in mid-1990, causing the unemployment to rise to 11 % in 1992-93. At this time, the level of cyclical unemployment was high. However, strong economic activity in 1993-1996 cause unemployment to fall 8.5 % for 1995-96 and the unemployment rate continue to rise in the year 1997. Australias economic growth was strong between 1997-98 and in the ending June of 1999, unemployment fall down to average of only 7.6 %. During the mid to late 1980s employment increased ......
Word Count: 1225
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