Your manager has asked you to prepare a 1,200 word report on unemployment in the Australian labour market. In preparing your report, your manager has asked you to:

• Explain what determines if a person is in the labour force?

• Distinguish an unemployed person from one who is not in the labour force?

• Describe the trends and fluctuations in the unemployment rate in Australia from 1980 to 2014 (the data can be downloaded from the Australian Bureau of Statistics).

• Describe the differences between fictional unemployment, structural unemployment, and cyclical unemployment

• Outline the economic and social costs associated with unemployment.

The report must be structured as follows:
1. Introduction (3 marks) 2. Unemployment in Australia: definitions and trends (4 marks) 3. Major types of unemployment 3.1. Cyclical unemployment (3 marks) 3.2. Frictional unemployment (3 marks) 3.3. Structural unemployment (3 marks) 4. The economic and social costs of unemployment (4 marks) 5. Policies to combat unemployment (8 marks) 6. Conclusion (2 marks).

Tips for preparing your report:

• Define your terms;

• Clearly explain economic concepts;

• Provide relevant examples; • Make use of multiple references;

• Keep to the word limit; and

• Ensure your assignment is well-presented and free from grammatical and typographical