Trends of the Australian Labour Market Outcomes and there effect on the Australian Economy. A Outline of the current Australian Industrial Relations Act. (Work Choices 2005)

The Reserve Bank of Australia's glossary of terms, defines a labor market as "A collective term for employment, unemployment, participation rates and wages."* It can also be defined as the interaction between employees and employers and how they seek to find employment, also the effects of trade unions and Industrial Tribunals and how they aim to protect and assist workers. The labor market throughout the years has shown trends or patterns in its changes, this …

…is one example of the role that government has in helping the employees and employer in the current industrial relations system. Therefore it can be seen by the study of recent statistics, trends can be identified in the labor market and they can impact on the Australian economy in both positive and negative ways. Also the current industrial relation reforms have caused many changes in roles of Trade Unions, Employer Associations and the Federal Government.