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a) Why is the underutilisation rate higher than the underemployment rate??
b) The current unemployment rate is 5.2% and the number of people in the labour force is 212,000. Use this information to find the following.
(i) How many people are unemployed??????
(ii) If the working age population is 320,000 what is the labour force participation rate??????????
(iii) Tara, who lives in Sydney is not a particularly productive worker and she is often unemployed as she gets sacked from her various jobs as she fails to meet her employer's expectations. Yet for the past 8 months, Tara has not only managed to obtain a job on a part-time basis, but recently was upgraded to a full-time worker despite still being a less than efficient employee. What does Tara's situation tell you about Australia's output gap at present, and what does this indicate with respect to the relationship between the actual unemployment rate and the full-employment rate????
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