What is employment?
Employees hired by a business at any time will largely depend on the nature of the products and the number of customers who wish to purchase the products. The more items that is sold the more employees a business will hire. The SME sector is a major generator of new jobs since the mid-1980s.
Australian SME Market
Small medium sized enterprises employ over five million Australians, or 63% of all workers, and over 180,800 SMEs employ between five and 19 people. SMEs perform a critical role in the Australian economy as highly flexible and responsive suppliers to large firms, customers of large firms and as suppliers to end user customers in their own right.
Fair Work Act
The Fair Work Act regulates the terms under which employers hire employees and the future treatment of future employees. Employers and representation parties can express their objectives surrounding the nature of work. The Fair work act became operational on 1 July 2010.
Australia’s Unemployment Rates
In January 2014 unemployment rates rose from 5.8% to a 0.2% rise of 6%, however this is good compared to the 10.90% in December 1992. The unemployment rate at the ages of 15-21 is 11.9%, many workers aged 15-21 are on a casual basis in which they can deny work whenever it doesn’t suite them. In November 2012 there were 170, 200 job vacancies advertised online.
- 70, 510 were managers or professional jobs.
- 20, 858 were for technicians and trade workers.
- 81, 278 were for unskilled and other jobs.
Casual Employment is where an employee is paid on an hourly rate; a casual employee isn’t entitled to benefits such as sick and holiday pay.
In 2003 28% of Australian workers were employed under a casual basis.
Casual employees have the right to decline any work opportunity at any time they wish too.