a. Refer to the diagrams below to describe the Tasmania's employment outlook compared to the national employment outlook. (10 marks) Labour Force Participation Rate (%) 68.0 56.0 64.0 62.0 50.0 58.0 56.0 90 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 Australia Tasmania Employment Level (Index), Trend Data 180 160 140 120 100 90 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 -Australia Tasmania Unemployment Rate (%) 13.5 11.5 9.5 7.5 5.5 3.5 90 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 Australia -Tasmania Source: 6202 0 Labour Force, Australia, Australian Bureau of Statistics. b. What factors could have caused the differences in i. Labour force participation rate? (5 marks) ii. Employment level? (5 marks) iii. Between the period 2012 to 2015, why was the Tasmanian unemployment rate way higher than the national rate? [10 marks) UNIVERSITY of TASMANIA @ University of Tasmania - CRICOS PROVIDER CODE 005868 6C. Macroeconomic conditions affect the decisions firms and families make. Why, for example, might a high school graduate from Tasmania enter the job market during an economic expansion, but apply to go to a Technical and Further Education (TAFE) college during a recession? What effect would this decision have on the official measure of the rate of unemployment in Tasmania? (10 marks) d. The diagram below shows the Australian employment level for different age groups. Which group tend to have above-average unemployment rates, and which groups tend to have below-average unemployment rates? Explain the reason for these differences. Employment Level by Different Age Groups 135 DET 125 120 115 110 105 100 95 D6 Jan-2010 Jul-2010 Jan-2011 Jul-2011 Jan-2012 Jul-2012 Jan-2013 Jul-2013 Jan-2014 Jul-2014 Jan-2015 Jul-2015 Jan-2016 Jul-2016 Jan-2017 Jul-2017 Jan-2018 Jul-2018 Jan-2019 Jul-2019 Jan-2020 -15-64 -15-24 25-34 (10 marks)