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Question 1) As of August 2021 (latest data available). the working age population in Australia (people aged between 15 and 64) was estimated to be
Question 1) As of August 2021 (latest data available). the working age population in Australia (people aged between 15 and 64) was estimated to be 20.91 million. Of those 20.91 million people. 13.64 million were in the labour force while the rest were not. With respect to the labour force. 13.02 million people were employed while 0.62 million (aka 620,000) people were without a job. a. Calculate the labour force participation rate in Australia in August 2021 b. Calculate the unemployment rate in Australia in August 2021 c. Give three examples of people who are within the working age but are not in the labour force Question 2) For each of the following. determine if the person would be classified as employed. unemployed, or not in the labour force. Clearly explain why a. A 45-year-old man who left his job and is now working as a volunteer for 40 hours a week and is not looking for paid work b. An individual who is working as a sale assistant for 10 hours a week on a casual basis. She is keen to look for more hours but has not been able to nd them. c. A manufacturing worker who is currently without a job. She is currently looking for Work but cannot start for 3 months as she is looking after her sick parent (1. A salesperson who has just been laid off because his Big W store was recently shut down. He is actively looking for another job
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