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Running Head: Why There Is A Huge Fluctuation In The Rate Of Unemployment In Australia 1
Why There Is A Huge Fluctuation In The Rate Of Unemployment In Australia 2
Why There Is A Huge Fluctuation In The Rate Of Unemployment In Australia:
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Student’s Name:
Abstract
This article was written for the purpose of studying and analyzing the great change of the Australian male unemployment rate aged between 15 and 24 years old from 1983 to 1992. Based on the relevant data outlined below, the results reflected by this phenomenon were obtained by looking up data and analyzing charts and a wide range of information. The conclusion was that the huge fluctuation of the unemployment rate of Australian men aged 15-24 in 1983-1992 was because the proportion of the male population was also fluctuating at the same time and the government implemented a loose and a tight policy for a short period of time (‘’ 5494.0 - Economic Activity of Foreign Owned Businesses in Australia’’, 2018). The result was that people got work and the target population was thus employed in a very short time.
Introduction
Unemployment rate(%), aged 15-24, from 1983-1992（Gapminder）
Sex ratio (15-24years) was worked out by dividing the number of men by the number of women. A close evaluation of the chart makes it obvious that the sex ratio went down from 1983 to1990 thus resulting in a significant increase in the number of men when compared to that of the women. This is, therefore, the reason why the unemployment rate (%) amongst the males aged 15-24 decreased remarkably. Subsequently, the sex ratio (15-24years) increased from 1990 to 1992 only to result in the increase in the number of males at that particular moment (‘’ 5494.0 - Economic Activity of Foreign Owned Businesses in Australia’’, 2018). The change in population resulted in an increase of the unemployment rate (%) amongst the males aged 15-24 from the year 1990 to 1992. This enlists as the first cause of the huge fluctuation of unemployment rate amongst this category of individuals.
From 1983-1992, the Australian government was financing a wide range of institutions with the intention of controlling the widening gap. Moreover, the government financed many infrastructure projects in a manner that was reportedly unregulated thus resulting in financial constraints in some institutions. The escalation of the financial crisis necessitated the government to begin borrowing independently (‘’ 5494.0 - Economic Activity of Foreign Owned Businesses in Australia’’, 2018). This phenomenon resulted in a rapid growth in the number of employees from 1983 to 1992. The change in the number of employees sensitized the government to realize that that the number of workers exceeded the ones who were needed. Each and every state of the government started to control the phenomenon only to result in an immediate result where a great number of people were out of work. Therefore, the trend of the male rate of unemployment between ages of 15 and 24 showed a huge fluctuation from 1983 to 1992.
Finally, Australia has been actively expanding its relations with East and southeast Asian countries since the year 1980s due to its geographical location. In recent years, it has had close contacts with Japan, Singapore, Indonesia, Malaysia, South Korea and China. The reason for this improvement was because a lot of foreign companies went into Australia and brought many people from other countries to Australia (‘’In office – Robert Hawke – Australia's PMs – Australia's Prime Ministers", 2018). Furthermore, these people came from other countries exerted a huge pressure on the field of employment to the local people, thus inflicting a huge impact on local employment and competition. As a result, many of the local people got unemployed.
Method
Sex ratio from 1983-1992 (15-24years) sex ratio (15-24years)
The sex ratio was calculated by dividing the number of men by the number of women, so when the sex ratio goes up, it means that the number of men is also going up and this leads to the increase of male work pressure, which leads to the increase of unemployment rate. Conversely, when the sex ratio drops so does the number of men, a trend which reduces the pressure on men to work and thus the high unemployment rate.
The Hawke Government came to power in 1983 amidst an economic downturn, but pursued a number of economic reforms through the 1980s. Economic factors at play during the Hawke government were globalisation, micro-economic reform, and industrial relations reform as well as the opening of Australian finance and industry to international competition and adjustments to the role of trade unions. Hawke concluded his term as Prime Minister with Australia in the midst of its worst recession since the Great Depression. Economic reform included the floating of the Australian dollar, deregulation of the financial system, dismantling of the tariff system, privatised state sector industries, ended subsidisation of loss-making industries, and the sale of the state-owned Commonwealth Bank of Australia, Optus, Qantas, and CSL Limited (‘’In office – Robert Hawke – Australia's PMs – Australia's Prime Ministers", 2018).
Between 1983 to 1992, Australia was in total control stage. Australian government used a very loose policy at first and as a result, companies and factories employed a great number of people to work for them. What is more, companies and factories were gradually out of regulation of Australian government. A few years later, the Australian government had realized this problem and they used a very tight policy to ensure that companies and factories developed reasonably, but due to these two opposite policies, people got work and out of work rapidly in those years. As a result, the implementation caused a huge fluctuation in the percentage rate of unemployment among the males aged 15-24 in 1983-1992.
(‘’5494.0 - Economic Activity of Foreign Owned Businesses in Australia, 2014-15’’, 2018).
The ancestors of most white people in Australia were British immigrants in the 19th and 20th centuries. Australia, like the United States, has the highest percentage of immigrants in the world. The example of other countries with higher populations include, Germany, Greece, Italy, and some Asian countries or regions, such as Hong Kong, Taiwan, mainland China, Japan, India, and middle eastern Muslim countries (‘’20680-Ancestry by Country of Birth of Parents - Time Series Statistics’’, 200-2006).
In 1983-1992, a lot of foreign business moved into Australia. At the same time, this phenomenon brought a great number of foreign people into Australia. In that case, these immigrants became a big pressure to the local people in the working filed. Maybe at first, foreign businesses needed more workers so they employed a great number of people to work for them. After a month or several months, these foreign investors found that some of their employees could not satisfy their requirement (‘’20680-Ancestry by Country of Birth of Parents - Time Series Statistics’’, 200-2006). In that case, they laid off their employees and that caused a huge fluctuation of the unemployment rate (%) amongst the males aged 15-24.
Results
Through my research, I found that because of the fluctuation in the male population, the government used the loose and tight economic policies and foreign business came into Australia in a few years. This resulted in the increase of unemployment rate of Australian men aged 15-24 years old from 1983 to 1992. Subsequently, this number of male population affected Job competitiveness across the population. Two opposite policies made a great number of people to got work and out of work in a very short time. Foreign business moved into Australia and brought a great number of foreign employees who gave a great pressure to local people and made some of them out of work (‘’20680-Ancestry by Country of Birth of Parents - Time Series Statistics’’, 200-2006). These are the three reasons that caused the huge fluctuation of unemployment rate (%) among the males aged 15-24 in 1983-1992.
https://tradingeconomics.com/australia/labor-force-participation-rate
There are two effects of this huge fluctuation of the unemployment rate (%), males aged 15-24 in 1983-1992 as well. The first one is that it caused a huge economic downturn in those years. The second one is that it made a surplus of labor in Australia.
Conclusion & Discussion
As far as I am concerned, there is both a bad side and a good side to the matter. On the negative side, the employment environment in Australia was disturbed thus inflicting a huge impact on the economic situation in Australia, a paradigm shift that lead to a relatively serious decline of the Australian economy in 1983-1992. The good news is that the Australian government is not willing to give much of a free hand to the development of businesses and all aspects of the economy. Enterprises should be given a certain space for free development so that the country's economic development attains the greatest advantage.
In conclusion, the dramatic rise and fall in Australia's 15-24 year old male unemployment rate between 1983 and 1992 illustrates the country's precarious economic development. This is, perhaps, because a lot of people got to work and out of work in a very short time, a scenario that made Australian economy show a very big downturn in those years. Second, a great number of people were out of work and the worse thing is there was no need for more people from anywhere. What is more, there was a surplus of labor after a lot of people were out of work.
Reference
5494.0 - Economic Activity of Foreign Owned Businesses in Australia, 2014-15. (2018). Retrieved from http://www.abs.gov.au/ausstats/abs@.nsf/mf/5494.0
Australia Labor Force Participation Rate | 2018 | Data | Chart | Calendar. (2018). Retrieved from https://tradingeconomics.com/australia/labor-force-participation-rate.
In office – Robert Hawke – Australia's PMs – Australia's Prime Ministers. 2018. Primeministers.naa.gov.au