Rapid Recovery

<p>3.9%</p> Signup and view all the answers

<p>38.4%</p> Signup and view all the answers

<p>10.1%</p> Signup and view all the answers

<p>30.2%</p> Signup and view all the answers

<p>Government actions, economic stimuli, labor market shortages due to skilled emigrants being barred from entering the country.</p> Signup and view all the answers

<p>Australia recorded a net loss of 88,800 people in 2020-21 due to the impact of COVID on overseas migration.</p> Signup and view all the answers

<p>The departure of migrants, who were unable to fill vacancies, has led to a skills shortage in Australia.</p> Signup and view all the answers

<p>Curbing inflation</p> Signup and view all the answers

<p>High energy prices, shortages of supplies, and consumer demand drops</p> Signup and view all the answers

<p>4.65%</p> Signup and view all the answers

<p>National Skills Commission</p> Signup and view all the answers

<p>Due to the impact of COVID-19, Australia recorded a net loss of 88,800 people in 2020-21.</p> Signup and view all the answers

<p>The current underemployment rate in Australia is 6.422%.</p> Signup and view all the answers

<p>The percentage increase in the average amount of hours worked during this period is calculated as $\frac{(103.6-94.1)},{94.1} \times 100%$.</p> Signup and view all the answers

<p>High energy prices, shortages of supplies, and the RBA policy of interest rate increases to curb inflation are some factors that may contribute to an increase in the unemployment rate in Australia.</p> Signup and view all the answers

<p>The current unemployment rate in Australia is 3.9%.</p> Signup and view all the answers

<p>The impact of COVID-19 on overseas migration in Australia is not mentioned in the text.</p> Signup and view all the answers

<p>The text does not mention what has led to a skills shortage in Australia.</p> Signup and view all the answers

<p>4.65</p> Signup and view all the answers

<p>6.422</p> Signup and view all the answers

<p>70,000</p> Signup and view all the answers

<p>unemployment</p> Signup and view all the answers

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<p>July</p> Signup and view all the answers

<p>impact</p> Signup and view all the answers

<p>COVID-19 restrictions = Rapid recovery due to government actions and economic stimuli Barring of skilled emigrants = Labor market shortages and decline in unemployment Departure of migrants = Skills shortage and difficulty in filling vacancies War in Ukraine = Disruption of supply chain and increase in cost of living</p> Signup and view all the answers

<p>July 2020 = 7.48% July 2021 = 4.65% January 2022 = Not given February 2022 = Not given</p> Signup and view all the answers

<p>From July 2021 to February 2022 = Underemployment rate dropped from 9.088% to 6.422% From March to April (year not given) = People working fewer hours due to bad weather dropped from over 500,000 to around 70,000 From January 2022 to February 2022 = Average amount of hours worked increased from 94.1 to 103.6 2020-21 = Australia recorded a net loss of 88,800 people due to the impact of COVID on overseas migration</p> Signup and view all the answers

<p>The Australian labour market in 2020 = Birch, E. and Preston, A. Employment and unemployment = Australian Institute of Health and Welfare The Unemployment-Vacancy Relationship in Australia = Fahrer, J. and Pease, A. 1.1 Impact of COVID-19 on the Australian labour market = National Skills Commission</p> Signup and view all the answers

<p>RBA = Policy of interest rate increases to curb inflation National Skills Commission = Reports on the shape of Australia's post-COVID-19 workforce Australian Bureau of Statistics = Provides statistical information, including the unemployment rate Consumer demand = May decrease due to high energy prices, shortages of supplies, and RBA policies</p> Signup and view all the answers

<p>High energy prices = May push the unemployment rate back up Shortages of supplies = May push the unemployment rate back up RBA policy of interest rate increases = May push the unemployment rate back up COVID-19 = Impacted the Australian labour market</p> Signup and view all the answers

<p><a href="http://www.nationalskillscommission.gov.au">www.nationalskillscommission.gov.au</a> = Reports on the Australian labour market and industry employment <a href="http://www.ceicdata.com">www.ceicdata.com</a> = Provides economic indicators, including the underemployment rate <a href="http://www.abs.gov.au">www.abs.gov.au</a> = Provides statistical information, including the unemployment rate <a href="http://www.aihw.gov.au">www.aihw.gov.au</a> = Reports on employment and unemployment</p> Signup and view all the answers