Labour+Markets

Now that we've got through the introduction to Economic theory, it's time to start getting our teeth into some of the issues to do with how economies are managed. This week, you will see the federal budget handed down by Peter Costello (a must watch), and this is just one of many tools that the government uses to keep the economy on an even keel. One of the most critical areas of an economy is how well its **labour market** is managed. Australia has a strong history of regulating (government controlling) its labour market, and in the opinion of some, this has been one of the major reasons that Australia's economy has failed to reach its full potential. The Howard government has attempted to change this through its WorkChoices policy, which has been welcomed by business groups, but condemned by unions. In this unit of work, you will read about the demand and supply of labour, the productivity of the Australian labour market, definitions of employment and unemployment, other characteristics of the Australian labour market (ageing workforce, role of women, to name a few), wages, rights and responsibilities of both workers and employers, and other general employment trends. What I want you to do while you learn this unit, is make a judgement about your position on labour market regulation, because this will shape up to be a major federal election issue. It is also something that you should have an active interest in, because whichever party wins the next election will establish an industrial relations agenda that you will probably work under when you leave school or university. Attached is a Powerpoint I'd like you to look at. We'll go through some of the main concepts as a class.

Budget 2007 - Long Term Unemployed

Budget 2007 - Mums and Childcare

Budget 2007 - Flexible Workforce

Budget 2007 - Labour Market Growth

Measuring Unemployment