homework summative

Topic/s of Primary Focus: GDP, Unemployment and Inflation
(May also include content from previous topics.)

Refer to the *either* the

March 2022 Labour Force Survey data, published on 14/04/2022 and available at:
https://www.abs.gov.au/statistics/labour/employment–and–unemployment/labour–force–
australia/mar–2022

*or* the

April 2022 Labour Force Survey data, that will be published on 19/05/2022 at:
https://www.abs.gov.au/statistics/labour/employmen…
(Note this link will also take you to the March 2022 data until 19/05/2022)

Note that as new Labour Force Data will be published just several days before the due
date of this assignment I am giving you the option to analyse the March 2022 data if
you wish to prepare the assignment prior to the publication of the new data. Or if you
do not commence the assignment until a few days before it is due, you can use the
more recent April data. Please do not accidently switch between these options or
become confused when the new data becomes available at the ‘latest release’ link.

In particular, refer to the Key Statistics dot–points and table at the top of these pages
for the key information.

Task:

Summarise in your own words the unemployment rate and related figures for the
selected month. Explain what is represented by this data, such that a non–economist
would better be able to understand its meaning.

You should in particular aim to incorporate elements of understanding that have come
from this course, such as what it means to be ‘unemployed’ and to be ‘in the labour
force’ and so on, to provide a clearer interpretation of the meaning behind these
numbers.

(For example, you can imagine that you are writing a short summary article for a
newspaper that is aimed at a general audience. Although you do not need to follow
this format stylistically.)

Format:

The format of your response should be an essay–style response.
You do not need subheadings or subsections.
You do not need to spend as much attention on formal essay structure as you might
for a persuasive or research–based essay. Instead you should focus on communicating
your ideas in a clear and concise manner and making sure there is a logical flow of
ideas and explanation.

Word Limit:

650 words (excluding diagrams and references)

Diagrams:

Unlike previous weeks, this task does not necessarily require diagrams. However you
may choose to use diagrams if you wish.

If you wish to include other diagrams, tables, or figures from sources such as the ABS,
make sure that you include an appropriate reference.