Economics - Australia and Labour Markets

turn over and the Labour Market

Labour is the human element in the production process. The sweat commercialize is a factor market where the motive and grant of labour interact to determine the wage rate and the parcelling of labour resources in the economy.

Derived Demand for Labour

The choose for labour is derived from the demand for the goods and services that labour is used to produce. In a belligerent labour market, the interaction of the demand and supply for labour get out determine wage rates and the allocation of labour resources. However, governments substitute in the free operation of labour markets for a form of reasons

- Establish minimum wage levels

- Resolve industrial disputes

- learn minimum conditions (health and safety)

- Annual leave and superannuation payments

Size and Quality

Government Policies such as industrial relations, immigration, education and training affect the size and the look of the labour market. Size of the labour market can be taken to mean the size of the labourforce. The Quality of the labour market refers to the general health, motivation, skills, and education and training levels possessed by those persons in the labourforce.

Influences of the Australian Labour Market

Demand Factors Affecting the Size and Quality of the Labour Market

Labour Demand at a macro sparing level give be defined by the following:

- The total level of economic activity or aggregate demand. If economic growth is high school as it has been, there will be an increased demand for labour as spending and output have risen, change magnitude the demand for productive inputs including labour.

- The productivity of labour will influence decisions by employers to hire workers. Rising productivity levels will occupy to an increased demand for labour as employers are in all likelihood to hire more productive workers to increase output at a reduced...

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