Australia recorded its lowest level of Unemployment in the midst of the highly synchronized global slowdown.
Australia economy got boosted by the mining boom from 2003 to 2008. At this period, The Australian economy continues to benefit from trading substantially with Asia and in particular, China and experienced the robust growth in skilled immigration. Just over one in four Australians was born overseas.
In recent scenario, Employment is surging alongside the underemployment rise.
Alongside the Australia’s well performing labor market, one aspect that needs to be acknowledged is the record high level of underemployment at 8.5 %, in May 2015. This figure says more when observed that employment means that one has to work for one hour in a week.
Inflation
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In 2007 and 2008 inflation rise as the economic growth was high and the economy was fully employed. Inflation reached 4.4% in December 2008.
The weakening world economy and global recession caused inflation to fall in Australia, reaching 1.7% in December 2009, but then it rose again as economic recovery got underway.
Output Gap
If you see the time-series data for Period of 2007 – 2008, it clearly signs that the economy had run up against capacity constraints, and that there was the steady deterioration in Australia's productivity performance and the rise in inflationary pressures.
Since 2008, The Australian economy in terms of output gaps is operating close to or at trend real output. This also justifies imposing fiscal austerity on the economy, which is expressed by their goal to achieve a budget surplus.
Business Cycle
In the realm of business cycle analysis, The Australian economy is in the midst of the transition from the investment phase to the production phase of the resources' boom. This transition is freeing up labour from resource and resource-related
The effect on security for Australia is they must be very selective on which county they contest in both the region and the global market. A failure to guarantee Australia’s competiveness in the global economy over a stretch of time would most likely end in more unemployment, business failures, loss of employment, and a dwindling economy resulting in the common lifestyle actually going backwards. With the globalization of the banking systems throughout the world, the security threat within the region is minimal. A system of this kind relies on countries all over the world and their success and failure is felt globally. If there is an economic downturn, somewhere the individual country may suffer but since it is linked together, it can recover quicker because of its global banking partners.
Australia was settled by the British in 1788 as a convict colony but without the Aboriginal contact and consequences, experience of non-Europeans, the gold rushes and their political, social and economical impact on the nation, the Depression in the 1890’s and living and working conditions all contributed to what our nation is today. Within 120 years as a result of aboriginal contact with Europeans the experience of non-Europeans, the social, political and economical impacts of the gold rushes of the 1850’s, the depression in the 1890’s and the living and working all contributed to what Australia became in 1914. As the colony of the nation expanded, some settlers came into conflict with the aboriginal people. The aboriginal people reacted
1.0 Introduction The aim of this essay is to discover what life was like in Australia during World War 2. Because we should know what it would of being like living in the war. On the 3rd of September, 1939 Australia declared war on Germany to help there allies in the United Kingdom. In 1940 and 1941, Australian troops saw action in the Middle East and North Africa. In January 1941, Australian troops helped capture Bardia and Tobruk in Libya.
During World War 2 (1939 – 1945), Australia had a variety of impacts on both its government and its people. The war had a great effect on the place of indigenous people in Australia as indigenous men and women joined services throughout the country. The Aboriginal Australians, both the men and the women had contributed in the second Great War. Meanwhile, when the Aboriginals of Australia had jobs during World War 2, Australia’s economy boomed with the help of the war as many Australian troops had gone out to fight for the British. The economy had boomed during the period of the Second World War as Australian products could be produced as well.
With reference to the Australian Curriculum, Assessment and Reporting Authority (ACARA), literacy has been noted as an indispensible skill that all students require in order to become successful learners, and as well as creating a base line for success across all learning areas, which is dependent on the ability to use ‘the significant, identifiable and distinctive literacy that is important for learning and representative of the content of that learning area’ (2013, p1). Using the Australian Curriculum for 7-10 Geography, this essay will explore the reasons why the study of literacy is important for all teachers and what it means to be literate in the geography subject area. Further more, this essay will provide examples of teaching strategies
Introduction Australia is said to be a multicultural and multiracial country. So why can’t we, as a country and as a nation, say yes to immigrants fleeing from a different country? As immigration to Australia is supposably apart of our history and it would be wrong not to continue on with the actions of our ancestors. Paragraph 1 As of 2014 – 2015, Australia accepted 13,750 refugees in total. Paragraph 2 • What are refugees and asylum seekers?
Australian Identity What is a true blue Aussie? We are all here today celebrating our country’s birthday because we are all true blue Aussies. No longer is the definition of an Australian just a flip-flop wearing, zinc-nosed beachgoer, yet a large portion of the population still see it as so. Evidently, as a nation, we have remained in the history books, seemingly incapable of redefining what we consider to be Australian. So what should the new definition of a contemporary Australian identity be?
During the post war period many features have shaped/still shaping Australian society today. These features include social, cultural and political. In the 70s fashion and the hippie moment was the big thing, also in the 1970s multiculturalism changed Australia from being only a white nation to not just a white nation. Australia had feared communism and joined the Vietnam War to try and prevent it coming in to our nation, introducing the domino effect.
Australia’s experiences of World War II were significant for Australia and impacted on the shaping of our national identity. Australia 's response to entry into World War II in 1939 differed from Australia 's entry into World War I in 1914. Reasons for this includes attitudes towards war changing after gaining the knowledge and experiencing consequences of World War I, the conditions and lead up to World War II as well as Australia’s strong support for Britain. Firstly, the attitude of Australians changed due to World War 3I proving that war was not glamourous or exciting like it was assumed. During the lead up to World War II Australians had already struggled to survive through the depression and were now required to survive at war.
The purpose of this summary is to describe how the recession started, the events that led up to it, the size, and what happened in result. The recession started in July of 1981 and ended in November of 1982. In 1980, the United States economy was already in bad shape due to a 6 month long recession that the United States economy eventually made a modest recovery from. Although the short 1980 recession is not the focus of this report, it did play a part in the events that led up to the 1981-1982 recession.