The Business Cycle, Structural Change, Technological Change and the Market for Tradespersons
32 Pages Posted: 19 Oct 2009
Date Written: October, 14 2009
The economic boom concentrated attention on skill shortages in Australia and their role in preventing the economy from reaching its full potential level of output and putting pressure on inflation. Also, there is now a body of evidence that structural and technological change has had important effects on skills mix in Australia. This paper concentrates on the extent to which the demand and supply of tradespersons has adjusted to changed economic conditions. The paper not only provides important factual information on different dimensions of skill shortages but also examines adjustment in the labour market and, in particular the role of earnings.
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