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Labour Markets

Labour markets

We want to know whether full-time employment has grown faster or slower than part-time employment since 2000? This is where index numbers are useful.

1. a) Calculate the employment index numbers for all the years 2000 – 2012 for i) full-time employment; ii) part time employment; &iii) total employment.

Table1 Employment in Australia, 2000-12, thousands

 Year Full-time employment 000s Full-time Employment Index Part-time Employment 000s Part-time Employment Index Total employment 000s Total Employment Index 2000 6,614.6 100 2,375.1 100 8,989.7 100 2001 6,597.5 2,492.4 9,089.9 2002 6,648.7 2,622.0 9,270.7 2003 6,772.7 27.12.2 9,485.0 2004 6,930.4 2,730.9 9,661.3 2005 7,148.7 2,849.4 9,998.1 2006 7,326.9 2,930.2 10,257.1 2007 7,583.7 2,993.3 10,577.0 2008 7,782.5 3,093.1 10,875.6 2009 7,724.3 3,229.5 10,953.7 2010 7,852.5 3,337.6 11,190.0 2011 8,014.5 3,376.1 11,390.6 2012 8,098.3 3,417.1 11,515.4

Source: Australian Bureau of Statistics, Labour Force

1. b )  From the employment index numbers, what has been the trend in part-time employment compared with full-time employment? (50 -100 words)

1. c) What implications do these observations above have for the ‘grey economy’ (i.e. the informal labour market that is ‘cash in hand’ and ‘off the books’)? (50 -100 words)

GDP concepts

1. Open the following link from the Australian Bureau of Statistics. It is the summary of Australia’s National Accounts for the December 2015 quarter (1 Oct 2015 – 31 Dec 2015).

http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/5206.0Main+Features2Dec%202015?OpenDocument

1. a) What industry sectors were responsible for the increase in GDP over that period?(20 -30 words)

1. b) Look at the section ‘Prices in the National Accounts’. Refer to the table ‘Selected chain prices indexes‘.Note: chain price indexesare a time series of data that measure the impact of pricechange. What component/s of Aggregate Expenditure (i.e. C, I, G or NX) increased at the fastest rates? (20 -30 words)

1. c) What is the approximate percentage contribution of each component to total GDP in Australia? (You will need to do a google search of a recent period as the ABS link above does not have this information.)(20 -30 words)

1. d) Did the components that provided the greatest positive (or negative) contribution to GDP (from 2. d), grow fastest or slowestin terms of the reported ‘Selected chain prices indexes‘? (20 -30 words)

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