Labour Market Outcomes (HSC SSCE Economics): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
Enterprise bargaining definition
Enterprise bargaining definition
Pay negotiated directly at workplace, not centrally
Income distribution meaning
Income distribution meaning
How total income spreads among different social groups
% of income received by top 20% earners (2017-18)
% of income received by top 20% earners (2017-18)
40.4%
Income gap: highest vs lowest quintile ratio
Income gap: highest vs lowest quintile ratio
More than 5 times greater
Non-wage outcomes examples
Non-wage outcomes examples
Sick leave, holiday leave, superannuation, company cars
Superannuation definition
Superannuation definition
Compulsory retirement savings contributed by employer
Top factor for job satisfaction in Australia
Top factor for job satisfaction in Australia
Flexibility to balance work and non-work commitments
Wellbeing score: full-time employed vs unemployed
Wellbeing score: full-time employed vs unemployed
76 vs 68
Salary packaging examples
Salary packaging examples
Company cars, laptops, gym memberships, childcare
Effect of declining union membership on wages
Effect of declining union membership on wages
Greater variation in pay within industries and occupations