Go to the latest Labour Force Survey by the Australian Bureau of Statistics at: Labour Force, Australia, March 2021 | Australian Bureau of Statistics (abs.gov.au)
Go to the latest Labour Force Survey by the Australian Bureau of Statistics at: Labour Force, Australia, March 2021 | Australian Bureau of Statistics (abs.gov.au) (it will be data for March 2021). a. What is the labour force participation rate? Briefly checking some online sources is it lower or higher than in other countries? Try to provide some explanation for the difference. b. Assume that the participation rate in Australia changes to 64%. Also assume that the adult population and the number of employed remain unchanged (hint: if the adult population is not reported, you can calculate it easily using the labour force and participation rate). What would be the new labour force, the number of unemployed, and the unemployment rate? Round your numbers to whole people (i.e. all will have decimal places, except the unemployment rate, for which report 2 decimal places). c. Spend about 10 minutes going through the website and report at least one observation you find interesting or surprising, and a possible explanation for it.
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