From Golden Age to Golden Age: Australia's 'Great Leap Forward'?
The 25 years after World War II witnessed strong labour market institutions and beneficial labour market outcomes - high wage growth and integration of low-skilled immigrants. Then came the macro shocks of the mid-1970s. Labour market outcomes deteriorated as full-time employment-population ratios fell, particularly among men; unemployment and welfare use increased; and real wages grew slowly. The golden age passed. In response, successive governments have increasingly begun to dismantle the...[Show more]
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|Source:||The Economic Record|
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