The Supply of Labour (HSC SSCE Economics): Flashcards
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Direction of labour supply curve as wages rise
Direction of labour supply curve as wages rise
Upward sloping
Human capital definition
Human capital definition
Knowledge, skills, training & experience workers bring to production
Occupational mobility meaning
Occupational mobility meaning
Ability to move between different jobs
Geographical mobility meaning
Geographical mobility meaning
Ability to relocate between locations for work
Labour force participation rate formula
Labour force participation rate formula
(Labour force ÷ Population 15+) × 100
Pro-cyclical meaning
Pro-cyclical meaning
Moves in same direction as economic cycle
Australian participation rate: 1969-70 to 2019
Australian participation rate: 1969-70 to 2019
Rose from 61% to 66%
Female participation rate: 1969-70 to 2018-19
Female participation rate: 1969-70 to 2018-19
Increased from 39.1% to 60.6%
Male participation rate: 1969-70 to 2018-19
Male participation rate: 1969-70 to 2018-19
Declined from 83.2% to 71.0%
Skilled migrants as % of Australian intake (2016-17)
Skilled migrants as % of Australian intake (2016-17)
More than two-thirds (123,567 out of 183,608)