The Australian Labour Market: The More Things Change …

Abstract

This article reviews Australia's unemployment experience since the Global Financial Crisis. First, developments in the rate of unemployment since the Global Financial Crisis are described. Second, the main drivers of the increase in the rate of unemployment that has occurred are established. Third, some aspects of recent experience that have received substantial attention-such as increasing youth unemployment and growing regional dispersion in unemployment rates-are considered. Studying the history of the Australian labour market reveals that these features always accompany cyclical downturns. Fourth, policy options for dealing with unemployment are evaluated.

What is an Australian Job Worth?

“…The high calculated value of an Australian job found in this article underlines the importance of carefully considering job losses when evaluating public policy changes, and devoting resources to mitigating the impact on individuals losing jobs. This point is emphasized by Borland (2015, p. 229).…”

Closures of coal‐fired power stations in Australia: local unemployment effects

“…Heaton and Oslington () concluded that interindustry shocks have been the primary cause of changes in Australia's unemployment rate. Borland () documented a strong negative correlation between national economic growth and changes in the national unemployment rate. Using census data at the SA4 level, Georgeson and Harrison () found that manufacturing job losses exacerbate local unemployment.…”