Australia: Background Material

May 10, 1995

Summary

This paper describes the developments in the Australian labor market during the 1990s. In 1994, a number of new labor market programs were launched, directed especially at the long-term unemployed, and a further step was taken in the evolutionary reform of the industrial relations system. The paper reviews developments in employment, wages, and productivity in Australia that formed the background to these policy initiatives. It also examines the conduct of fiscal policy at the Commonwealth and consolidated government levels and describes the fiscal consolidation strategy announced by the Commonwealth government for 1994/95–1997/98.

Subject: Banking, Expenditure, Exports, External debt, Income, Interest payments, International trade, Labor, National accounts, Wages

Keywords: Australia Commonwealth expenditure, Australia company profits, Australia housing market development, Australia interest, Australia investment income, Australia state government, company profits, CR, East Asia, enterprise, Exports, gross domestic product, Income, Interest payments, interest receipt, ISCR, net financing requirement, net service, reserve bank of Australia, South Asia, trading enterprise company, Wages

Pages:
78
Volume:
1995
DOI:
https://doi.org/10.5089/9781451801927.002
Issue:
029
Series:
Country Report No. 1995/029
Stock No:
1AUSEA0011995
ISBN:
9781451801927
ISSN:
1934-7685

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Notes

This background material on Australia was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.

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