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From July 2021 to July 2022, the Australian unemployment rate fell from 4.6% to 3.4%. However the underemployment rate fell from 8.3% to 6%. Distinguish

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From July 2021 to July 2022, the Australian unemployment rate fell from 4.6% to 3.4%. However the underemployment rate fell from 8.3% to 6%. Distinguish between the unemployment rate and the underemployment rate. Explain why the unemployment rate may have fallen at a different rate to the underemployment rate? In your response you should also refer to the following: Describe the concept of unemployment and how it is determined in Australia Why us the official unemployment rate often perceived to be inaccurate? Outline the role of underemployment and hidden employment in determining the official unemployment rate

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