A Report On The Australian Labour Market Essay

1112 Words Jun 10th, 2015 5 Pages
z“Describe and account for recent trends in the Australian labour market!”

INTRODUCTION
The labour market (the market in which employers and employees interact to sell labour for wages) is a crucial part of an economy. For employees, it is crucial that the labour market provides them with their main source of income, and for the firms, their costs (and thus their profits) are also based on the labour market setting wages.

Australia has historically had a tradition of egalitarianism, and in their chase for equality and trying to ensure fair outcomes for all, Australia created protections to supposedly help everyone by ensuring high wages for workers and stopping employers from having too much power over their employees.

FAIR WORK ACT
Previously, Australia had a system called the Workplace Relations Act 1996, however this has since been replaced by the Fair Work Act 2009. Here is a brief overview of the changes in recent years:

1904: Court of Conciliation and Arbitration created, which resolves disputes between employees, unions, and employers.
1906: Federal maritime award gives 10 days guaranteed paid annual leave for maritime workers.
1907: Shearer 's Award created, which entitles any worker to “be absent from work if he is unwell”. The patriarchy enforces through law that workers can only be male, as is shown here--^ and here-v
1908: First minimum wage set. Decision set a basic living wage, the amount which allows any man to support a family of 5.
1927: The standard…

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