Australia's living standards revision

A person who loses their job as a tour operator due to a recession

A person who loses their job as a fruit picker when there is no fruit left to pick

A person who loses their job as an accountant because they stole from their employee

A person who loses their job as an Economics teacher due to a decline in the number of students studying Economics

A fall in the labour force participation rate

An increase in the number of part-time workers

Raising the school leaving age to 18 years old

An increase in the rate of labour productivity growth

Unemployed as a percentage of the labour force.

Unemployed and underemployed as a percentage of the labour force.

Underemployed as a percentage of the population aged 15 years and over.

Unemployed and underemployed as a percentage of the population aged 15 years and over

55%

60%

65%

70%

An increase in the cash rate

An increase in the tax-free threshold

An increase in the rate of economic growth in China

An increase in government spending on infrastructure

2%

4%

3%

5%

1.4%

2.4%

3.4%

4.4%

To prevent inflation

When the general consumer prices for goods and services increase around 3-3.5% per year

To make the government spend more when prices are not increasing

When the general consumer prices for goods and services increase on average 2-3% over time

5.5%

6.0%

6.5%

7.0%

AS, G

GDP, O

CPI, P

AD, G