URGENT!!! How does the Government reduce Unemployment? (1 Viewer)

[Pepperpie]

Hi I have an assignment due tomorrow and I just need this part to do and i'm done. I couldn't find much information on the internet so I was wondering if anyone knew some information about what the government does Thanks heaps if you can help

 

[SharkeyBoy]

This depends if you're prelim or HSC as the answer will vary. I'm just going to assume you're HSC: There are various micro and macroeconomic policies that can help reduce unemployment. Should just be able to look in a textbook I guess. State that the government's objective is full employment i.e. the point at which there is no cyclical unemployment. You may want to mention the NAIRU and draw the Phillips Curve etc...
In terms of actual policies, I would say increase govt spending in the economy to increase consumer confidence, consumption etc... and so employers will hire more staff. You could also mention the new Gonski reforms. This would increase the future skills of Australians and help solve the ageing workforce problem that Australia has and decrease future unemployment in the process!

 

[Pepperpie]

This depends if you're prelim or HSC as the answer will vary. I'm just going to assume you're HSC: There are various micro and macroeconomic policies that can help reduce unemployment. Should just be able to look in a textbook I guess. State that the government's objective is full employment i.e. the point at which there is no cyclical unemployment. You may want to mention the NAIRU and draw the Phillips Curve etc...
In terms of actual policies, I would say increase govt spending in the economy to increase consumer confidence, consumption etc... and so employers will hire more staff. You could also mention the new Gonski reforms. This would increase the future skills of Australians and help solve the ageing workforce problem that Australia has and decrease future unemployment in the process!

I'm doing prelim and thanks for the help

 

[Kurby]

Anything that will boost aggregate demand in the economy and the GDP. Increase government expenditure, cut taxes, encourage more consumer and business spending and investment. They could do a billion things!

 

[Girls]

To get the structurally unemployed into work the government may introduce some form of incentive (through expenditure) for the unemployed (i.e. someone who's recently been sacked from Ford) to re-train in other, more resource-efficient skill areas (in Australia, this would be something like services, raw mats {not for long though haha} or simply transformed manufactures).

As Kurby said, there literally are a billion things that can be done.

 

[Pepperpie]

Thanks guys for the help it really helped me c: