Australia has become a new destination for people all round the world since last two decade. This has caused high impact on the economy balance of Australia, which had merely a 23 millions people living in Australia till the end of year 2012. A recent study shows that the employment rate from the millennium has increased with the population growth in Australia by 1.71 percentage. The research of ABS published on March 2013 clearly points that the increase in population growth has shown Australia the boost of the economy due to the increase in the employment rate.
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Data source: Australian Bureau of Statistics.
The data comparison of the population growth and employment rate growth shows the economy of the state has been balanced well. As the average population growth each year seems to be 1.7% creating jobs in 1% per annum makes Australia the best place to work and live. The results this comparison gives the statistics about the economy balance of Australia even though they have huge number of overseas migrants and the country is able to digest all the people to provide the jobs. This makes the people find the jobs and settle down in Australia in easier way than other places of world. In comparison to the world population growth by 1%, Australia has higher growth rate of residents, which has to be stated very seriously, although it has enough land and opportunities to cover them all. This might be worst for the forth-coming economy crisis in the future years, if its not balanced well.
The data includes the range of population growth from 2001 to 2012 and same as for employment growth rate divided in three factors male, female and persons categorised with the age range. The data sets of the ABS shows the estimated resident population in Australia categorised by age group and gender. The rate of change in the resident numbers are shown in 5 years of range with that of 2011 – 2012 which is kept under a range of one year. The age category defines the rate of certain aged group who are getting old and the estimation of next generation age group. However, the argument that lies here is more about the population growth rather than that of the age factor. So the research has set to find the rate of the population growth in the recent years. The categorisation of demographics has been done to make the process of finding the population rate much easier and hassle free.
The data shows that in 2006, the male population growth was 958,810 that is 1.82% of growth according to male population in 2001-2006. Conversely, there has been a slight decrease in the growth rate of male population in 2012. In 2012, the growth rate of male was only 1.72% in the comparison of 2006, which saw 1.82% growth rate. The male of age group 65-69 has the highest growth rate in 2011-2012 compared to the last five years. In Australia, the legal working age group of people who work to live is from 18-70. So, the increase in the male of 65 – 69 has a slight positive effect on the economy, though we believe that the age group less than 65 would have been much beneficial for the growing Australia.
The data also explains the female population growth from 2001 to 2012. The female population was increased by 930,248 in last 5 years, which was 578,667 in 2001 to 2006. On the other hand the growth rate remained still by 190,314 in 2012. Unlike the male population, female population of age group 55-59 has the highest growth rate than other age group range. Female population too saw high growth after 2006 in compare to 2001 though in the last year, the growth rate was slightly less than in the last five years.
But in total, the percentage of the total population growth rate has been marked at 1.71% by 2012, which is slightly less than the past five years, which was 1.78%. But the total resident growth rate is higher than the last decade. In total, the population growth rate of Australia has been going in same rate after millennium till 2012. The growth rate shows small changes annually to the increment.
Australia had 12,249,200 total labor force persons able to work for the available jobs in the market which just 2% more than in the year 2000. The labor face has been very constraint although the population growth was rapid in past decade. The total male force was 6,648,800 and 5,600,600 female labor force to work in Australia. The annual increment of the labor force very small portion in both gender but male population is leading the work force till the date.
In the end of the 2012 the total employed resident hit 11,589,700 which is slightly more than at the end of 2011 11,430,000. The total employed person in Australia is increased slightly from 2000, as the population grows. The rate of the employment growth does not seem to negative although the population goes on increasing. Every year, the employment growth is about 1% in comparison to the population growth by average 1.71%.
The total employed males increased to 6,289,500 in the end of 2012 from 6,222,200 of 2011. This shows the male employment in just slight increase and similar to females population from 4,208,700 in 2011 to 5,300,200 in 2012. The unemployed number of the males was 355,000 in year 2000 and hit 330,500, which shows the clear job creation as per population growth. It went up little bit up in 2012 hitting 359,200. This rate of female unemployment was 249,000 in 2000 and just tinny growth to 300,300 in comparison to the female population growth. But in total, the unemployed number was 604,000 in 2000, which was increase to 659,500 at end of 2012.
The total full-time male residents are 5,270,400 in the 2012, which drastically increased from the 3,335,100 in 2000. The full-time female employees have gain better results as well in caparison to the previous year. In total, full-time positions has been increasing every year with single percentage. The demographics of the part-time employees are more interesting here to look over. The male part-time employment went unto 1,019,200 in 2012 and so as for 2,428,500 for female and 3,337,700 in total persons with more than 1 % in 2011.
In contrast with the population of Australia, the employment ratio in males was 67.9%, which are slightly less than 68.4% in 2011. The ratio of female employment remains static and tinny percentage in increment for the last decade. The similar pattern can be seen in total persons of employment rate which is 61.7% people were holding jobs in 2012 which is just 2% more than in the beginning of the decade. This shows the clear result of the employment rate growth in Australia although they had to fight against the economy crisis in 2003 and 2008. The population growth was higher in later years, but the country was able to create the enough jobs to keep the people on jobs and maintain the economy.
In conclusion, the result showed that employment growth is 2.5% comparing to the 1.7% population growth in the past decade.
Quite simply, a larger population means a larger labor forces and bigger market with different huge range of different industries. The population density of each area needs more population to fulfill the modern city development. Australia is expecting more growth rate in population, as there are many countries with much lower long-term fertility rates, and weak or non-existent cultures of accepting migrants. Japan is already shrinking. Even the economic powerhouse that is modern-day China, thanks to its one-child policy, will reach a peak population in 2025, after which it too will start to shrink. On current trends, the population of Western Europe will also be smaller at the end of the century than it is today.
Developing the huge land like Australia need huge number of populations, but it needs the balance in the economic growth as well, creating jobs, creating future for the residents. As a leading developed nation, Australia has maintained its employment growth rate well in last decade to keep resident in jobs, which creates better living place and land to live in future. In conclusion, the employment growth result is 0.8% higher than population growth in the past decade. The growth of the employment is relative to the population growth in the land, which makes clear relationship of better economy.
Data source: Australian Bureau of Statistics.
Data Cited From:
http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/3101.0Mar%202013?OpenDocument (2013), “Population by Age and Sex Tables”, Australian Bureau of Statistics, accessed on 27 September 2013.
http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6202.0Oct%202013?OpenDocument(2013), “Labour force status by Sex”, Australian Bureau of Statistics, accessed on 27 September 2013.
Australian Bureau of Statistics, (2013) “Statistics” accessed on 04 november 2013, from http://www.abs.gov.au/AUSSTATS/abs@.nsf/web+pages/statistics?opendocument#from-banner=GT