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Word Count: 639
Unemployment in Australia Unemployment happens for a mixture of reasons It is not only hard on the people themselves but also it causes financial adversity for our government and economy The government has tactics to approaching the costs of unemployment in Australia Unemployment refers to those people who are willing and able to work actively seeking work but are unable to find employment Australias current rate of unemployment is 6 per cent compared to our countrys high of 11 per cent in 1992 In the last four economic cycles low point unemployment rates have been 46 per cent June 1976 55 per cent June 1981 56 per cent November 1989 and then 60 percent in September 2000 There are a number of types of unemployment These are cyclical structural frictional and seasonal unemployment Cyclical unemployment takes place as a consequence of slowing down in the level of economic movement which fluctuates in cycles When business movement increases cyclical unemployment decreases For example when we consume less business we have too much labor employed and must reduce the amount of people Structural unemployment results from a variance between available jobs and the skills held by the unemployed If job seekers are deficient of education or training needed to fill job openings it structurally changes the economy Frictional unemployment occurs when employees changing jobs and have difficulty finding new job having already left the other job This will always be expected as people will always be changing jobs Seasonal unemployment varies according to seasons Some will only be required for certain seasons eg Lifeguards- summer ski instructors- winter As an individual unemployment affects us in that we lose our prior income and can no longer afford the same value of goods and services previously experienced People whom are unemployed my experience social problems which may include loss of self-esteem confidence and sometimes harsh depression Unemployment influences the economy in that resources are not
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