The Australian Labour Market: The More Things Change …

This article reviews Australia's unemployment experience since the Global Financial Crisis. First, developments in the rate of unemployment since the Global Financial Crisis are described. Second, the main drivers of the increase in the rate of unemployment that has occurred are established. Third, some aspects of recent experience that have received substantial attention—such as increasing youth unemployment and growing regional dispersion in unemployment rates—are considered. Studying the history of the Australian labour market reveals that these features always accompany cyclical downturns. Fourth, policy options for dealing with unemployment are evaluated.