The Australian Labour Market

The health of the labor market can be judged by the change in unemployment rate and wage increase. Both problems will announce Australian Financial Review announced in the last 12 months that the Australian labor market tightened and will work when commenting on the outlook for next year. The change in the unemployment rate in Australia is an important issue in this news report. In the past 12 months, Australia's unemployment rate fell from 6% to 1%. This is called "puzzle" in news coverage.

According to the latest Australian labor market (2010), the employment growth rate trend is 9%, which is positive since 2009. In addition, Australia's Labor Market Update (ALMU) stated that employment will continue to increase throughout this period. As shown in Figure 1, the Australian Bureau of Statistics (ABS) also supports this statistic and shows the trend of full-time and total employment from August 2001 to August 2011. Choosing Australia, especially Sydney is the market I want to enter. In the long term, this supports the decision to find work in Australia after graduation. Furthermore, according to a cautious survey of tourism, there are more than 220 million people in the world or 6% of the world's workforce (World Travel and Tourism Council, 2009).

Labor market hypothesis: Tasman Global includes a labor market module that enables binding movement between Australia. In Tasman Global simulation, the Australian labor market can be handled in various ways. Traditionally, CGE modeling uses one of three labor market assumptions: Hypotheses 1 and 3 are more extreme. Under Hypothesis 1, the proposed development work only has to be carried out with existing workforce in the Bourdekin area, expecting natural growth. In other words, under hypothesis 3 for project reasons, fluctuations in wages in the Birdkin region are the same as changes in wages throughout Australia, labor relocation between Australia regions is equal to wages. Modeling under Hypothesis 3 brings the greatest change to regional labor force