| A | B |
|---|
| Labour Market | buyers and sellers come together to exchange goods or services |
| Real wage | purchasing power of your income |
| labour mobility | ability/willingness of workers to change jobs/locations |
| supply of labour, determined by | age, health, education, location |
| glass ceiling | women can not advance to uper mgmt |
| groups who can fund PML | employees, employers, gov't |
| advantages of immigration include... | more workers, more skills, more culture |
| negatives of immigration include... | need for capital, integration problems, balance of payment issues |
| zero population growth | births & deaths is such that the pop. does not grow |
| Participation rate | % of pop. over 15 participating in the workforce |
| optimum population | the best size population for a country |
| natural rate of increase | difference between births and deaths per 1000 |
| Thomas Malthus | his theory said that we will increase faster than our resources |
| Structural unemployment | labour force fails to employ workers with vacancies |
| Australian Industrial Relations Commission | works with the Govt to ensure fair pay for workers |
| Some eg's of allowable award matters... | holiday pay, public hol's., maternity leave |
| accord | govt and union agreement about pay and strike times |
| human capital | human resourcesthat need to be supported with health and education funding |
| Conciliation | parties meet with a 3rd party to discuss their issues |
| Arbitration | parties must follow the 3rd parties decisions |
