Summary Sheet

Year 11 Economics
Assessment Task 2 (Labour Markets)

Instructions
 Students are to complete this summary sheet by referring to classwork, the textbook, Canvas and
conducting individual research.
 Students will not be marked on this summary sheet. The purpose of this summary sheet is to assist
students during their assessment task
 DO NOT adjust the margins of the document
 DO NOT make any adjustments to the tables (add/remove rows, columns or tables)
 Type using:
o Times New Roman
o Size 12 font
o Coloured font is permitted
 Graphs/diagrams can be handwritten

Submission

Students are to submit a printed copy of their completed summary sheet upon the completion of the
assessment task.
 Terminology
Term Definition
1.occup. mobility ability to move between jobs due to education level
2. AD Tdemand for goods and services within an economy (the injections in an economy)
3.structural unemp mismatch between skills required for jobs and skills/edu that employees possess
4.dem for labour quantity of labourers required by businesses to fulfill their manufacturing objectives
5.sup for labour quantity of labourers required by businesses to fulfill their manufacturing objectives

Examples – Trends/Statistics
1. There is considerable inequality in the 8. The larger the population, the greater the
distribution of income in Australia, which has potential workforce
grown slightly over the past decade
2. top 20% of income recipients accounted for 9. Net migration: ^ of perm new arrivals over perm
40.8% of total income departures in 1yr contrib 40% of pop ^ since ww1

3. Falling AD, production cutbacks, firm closures = 10. Natural increase: ^ of births over deaths in 1yr
Increased unemployment
4. Regional areas tend to have higher 11.edu patterns: people with higher skill/edu benefit
unemployment rate through higher earnings

5. Sydney unemployment = 3.7% 12. 2005-2015: 8% increase in proportion of young

workers with grad qualification (64>72%)

6.lowest levels of unemployment Central West (2.2 13. earnings for men and women keep pace until
per cent), Southern Highlands and Shoalhaven (2.3 the birth of their first child for most women the pay
per cent) and Illawarra (2.8 per cent) gap generated at that point is never recovered.

7. Compared with the March quarter, the total 14. 5% - 16% of employed migrants are paid below
number of jobs held over the quarter fell by min. wage (for adults over the age of 21), compared
285,000. to up to 9 % of all Australian workers

Examples – Graphs/Diagrams (Max 4)