Social Sciences
7 years ago

Unemployment rates soar in 1980s Australia, impacting economy and society.

Palgrave Macmillan UK eBooks
Perspectives on Australian Unemployment: The Impact of Wage Setting Institutions in the 1980s
Bruce Chapman, Steve Dowrick, P. N. Junankar

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The 1980s in Australia saw a significant increase in unemployment rates compared to previous decades. Unemployment went from less than 2% in the 1950s and 1960s to 7.3% in the 1980s. This trend started in the early 1970s and only began to improve after 1983. The reasons behind this rise in unemployment rates and its impact are explored in this paper.