Rates Flashcards
Define unemployment
People who do not have a job but are actively seeking employment (i.e enrolled with centre link and doing exactly what they instruct you to do - for example attend interviews with jobs)
How to find Participation Rate?
Workforce over WAP times 100 (Working Age Population)-(people 15 or over)
Define employment
People who work for money; minimum hours per week to be classified as employed - 1 hour per week
Who is part of the workforce?
People who are employed or unemployed
When was Australia “fully employed” and when did it hit recession?
Durning the 1960s and it hit recession in the mid 1970s
When was the Global Financial Confidence?
There was a sudden overnight drop on 2008, banks stopped lending, people stopped spending.
How to find Unemployment Rate?
Unemployed over workforce times 100
Legal issues related to the workforce include:
Occupational health and safety, Anti Discrimination, Unfair Dismissal,redundancy and retraining, privacy, peace work and outsourcing.
OH&S must provide
Safe workplace, safe systems, machinery is regularly inspected, protective clothing and adequate training, written OH&S policy, workplace safety is everybody responsibilities
What are three ways that an employee’s employment may be terminated:
Summary dismissal -serious misconduct
Dismissal on notice - based on failure to perform job adequately
Redundancy dismissal due to the employer no longer needed for economic or technological reasons.
Tell me about work place privacy
Employers often monitor their employees by phone calls, keystrokes, web hits, emails, time keeping, performance, gps
What is outsourcing
Is when a business ‘contracts out’ some of its operations to outside supplier and providers such as legal services, accounting and book keeping, marketing and human resources.
What is piecework?
Piece workers are paid per item instead of per hour.
What is the trade union
A group of workers who unite to promote and defend wage rates and working conditions through common ideals and actions.
Define TAXATION
Governments collect taxation from individuals and businesses, tax is the main source of revenue. Tax provides for resources such as road, schools, park, hospitals, railways and defence forces.
