Discuss about the Genetic Programming Theory and Practice.
According to Gregory & Smith, (2016), Unemployment is a situation where people are without work and are looking for paid work. Unemployment is measured using the unemployment rate of a country. It throws light on the percentage of people unemployed in a particular country by calculating its percentage in the total labour force. The current unemployment situation in Australia is 5.7 % as in may, 2016.
The unemployment data as perceived from Australian Bureau of Statistics (ABS), provides a record of the labour supply details of the company at fixed time intervals. The statistical bureau uses internationally standardised methods and techniques of calculating the unemployment rate of the country. There are some fixed criteria that classifies a person of the country to be declared as unemployed. ABS uses that criteria in order to differentiate the population of Australia as employed or unemployed (6105.0 – Australian Labour Market Statistics, July 2014. 2016). The criteria are as follows –
ABS follows a range of measures along wit unemployment rate of the country, that helps in understanding the extent of underutilised labour supply or underemployment. ABS calculates the unemployment rate according to the international standards of calculating unemployment, which measures the working conditions if people from 15 years of age and above.
The three above mentioned criteria can be described further, in order to understand the reason of ABS following the method for calculating the unemployment rate –
Without work – this criteria is used to differentiate people from those who have work and those who does not. According to ABS, anyone who worked for at least one hour in the referred seven days, must be considered as employed. According to the economic criteria, if the person works for even an hour in the referred week, that work contributes to the economic production, and hence are considered as a part of employment (Diamond, 2013). Labour force statistics are economic indicators and need to be consistent with their economic measures. Socially employment is relatable to the standard of living of the people, which helps in upgrading the social well being of the people. Hence, it is quite appropriate to divide the people between those who have any from of work and those who do not.
By employing the one hour method of segmenting the people as employed or unemployed, it enables governments and policy makers to draw on international comparisons. If the hour strategy is not implemented to demonstrate the difference in the employment category of the people, the results are quite inconsistent in nature, because of the behavioural attributes of different people. To help in understanding the unemployment measure of the country, ABS recognizes the impending economic and social impacts of underemployment.
Actively seeking work – those people are considered as unemployed who are actively seeking for work or have done so in the past four weeks. People who are searching for jobs portray their willingness to do work and hence, they participate in the labour market. Active job search are taken into consideration . People who are applying for the position of an employee n an organization are willing to offer work for a certain amount of wage. Those people are considered as unemployed while calculating the unemployment rate. As per Truscott & Korns (2014), there are people who have given up with the hope of searching for jobs, because they have more probability of not getting a job. These people are discouraged job seekers and are therefore, not considered as unemployed. They come under that pool of labours who would only be accounted as the unemployed when their behaviour towards searching for job changes.
Currently available for work – this criteria calculates the currently available people for employment. It deals with the short term changes in the labour force. People who are willing to work, but might not be able to work due to certain reasons are taken to be marginally attached to the labour force. Hence, this section measures the availability of the labour force at the current status (Gumprecht, Haslinger & Kowarik, 2016).
By formulating these three key points, ABS further takes action in order to measure the unemployment rate. It runs a monthly survey of 26000 dwellings along with the various corporate areas throughout Australia (Junankar & Kapuscinski, 2013) . The overall data is collected, that represents the sample collection of the Australian people. The respondents are directly not asked about their employment status, in fact they are sorted being unemployed or employed depending upon the questionnaire that has been framed by ABS. ABS scales the survey collected using te most relevant population figures, thereby providing a vivid picture of the whole population.
Figure 1 : chart portraying the way in which ABS classifies the people as employed, unemployed or not in the labour force
(source : as created by author )
As stated by Elsby, Hobijn & Åžahin, (2013), it is quite important to evaluate the strength and health of the labour force of the country. Unemployment rate provides with a straight calculated percentage which is perceive from a confused data collection method. At some places, the method of collecting data and claiming people as employed or unemployed are not feasible n nature. Unemployment rate provides only the overall scenario of the country. The in depth analysis is not successfully done while analysing the problems of an economy.
Unemployment rate only takes those people into consideration who are not working, want to work, and are unsuccessful in grabbing a job at the referenced period of time,. It is compared with the availability of people as a fork force of the country. This method of calculating unemployment rate, results into various loopholes. One of the vital mistake that occurs is that a lot of people who are unable to work but are willing to work, are often missed from being a part of the labour force. Workers who are unable to work or are marginally attached to the labour force, do not get the possibility of being accounted in the statistical record (Kline & Moretti, 2013).
Another common mistake that is indicated while calculating unemployment rate, is that, a good the unemployment rate does not means that the employment situations of the country is healthy. If it would have been so, then there would have been a rise in the wages of the country. The prospect of having a better environment of the workers depending upon the unemployment rate is quite low. It does not provide the people with the useful information regarding the labour market, as people who belong to the labour force but are unofficially unemployed are not taken into consideration.
ABS distinguishes between the unemployed and those who are not in the labour force in an insensitive manner. The current state of unemployment in the country is either under stated or over stated by ABS. During times of recession, when the people would be searching for jobs, they might agree to do part time jobs as a result of the scarcity in full time. Hence, that would make the ABS to consider them as employed. This would result in a much under stated unemployment rate than it is in actual scenario. Not accounting marginal or discouraged worker as unemployed, and accounting for part time workers as employed is on of the major drawbacks of the unemployment rate of the country (Nguyen & Nilsson, 2014).
Sometimes, the survey that is collected with the help of the questionnaire set by ABS may not be efficient enough to take out the true facts from the people. Reliability over the people in terms of unemployment have always posed a threat. Calculations based o sch unethical record, have provided with a quite over stated results. Some people in spite of being unemployed might be engrossed in some illegal activities that helps them to generate revenues, thereby, if these people are taken as unemployed in the calculation statistics, the unemployment rate would be quite elated than correct rate.
Hence, it can be finally concluded that unemployment rate provides with the percentage of unemployed people in a country with respect to its workforce, yet it is quite different from the original scenario of unemployment in a country (Shimer, 2012). ABS calculates the unemployment rate in Australia by suing the old criteria of analysing the data collected from the surveys conducted by the association. Although ABS publishes the standard errors that occurs , yet it is unable to provide with the perfect rate of unemployment. The reason is that , methods that have been used by the organization till now, overlooks various issues that must be kept in mind, while formulating such rates. Hence, unemployment rate formulated is not considered as a good conductor for the true measurement of unemployment in an economy.
Reference
6105.0 – Australian Labour Market Statistics, July 2014. (2016). Abs.gov.au. Retrieved 23 September 2016, from https://www.abs.gov.au/ausstats/[email protected]/Lookup/25A17C4CDE30FB91CA257D0E001AC57A?opendocument
Diamond, D. (2013). Why the ‘real’unemployment rate is higher than you think. July5. https://www. forbes. com/sites/dandiamond/2013/07/05/why-the-real-unemploymentrate-is-higher-than-you-think.
Elsby, M. W., Hobijn, B., & Åžahin, A. (2013). Unemployment dynamics in the OECD. Review of Economics and Statistics, 95(2), 530-548.
Gregory, R. G., & Smith, R. E. (2016). 15 Unemployment, Inflation and Job Creation Policies in Australia. Inflation and Unemployment: Theory, Experience and Policy Making, 325.
Gumprecht, D., Haslinger, A., & Kowarik, A. (2016). Austrian LFS Monthly Unemployment Rates. Austrian Journal of Statistics, 40(4), 297-313.
Junankar, P. N., & Kapuscinski, C. A. (2013). Long-term unemployment in Australia: problems of memory and. On the Mysteries of Unemployment: Causes, Consequences and Policies, 10, 358.
Kline, P., & Moretti, E. (2013). Place based policies with unemployment. The American Economic Review, 103(3), 238-243.
Kroft, K., & Notowidigdo, M. J. (2016). Should unemployment insurance vary with the unemployment rate? Theory and evidence. The Review of Economic Studies, rdw009.
Kroft, K., & Notowidigdo, M. J. (2016). Should unemployment insurance vary with the unemployment rate? Theory and evidence. The Review of Economic Studies, rdw009.
Nguyen, K., & Nilsson, A. (2014). Home Ownership and Unemployment: A Panel Data Study on Australia.
Shimer, R. (2012). Reassessing the ins and outs of unemployment. Review of Economic Dynamics, 15(2), 127-148.
Truscott, P., & Korns, M. F. (2014). Explaining Unemployment Rates with Symbolic Regression. In Genetic Programming Theory and Practice XI (pp. 119-135). Springer New York.
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