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Wage Determination Esssay

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EVALUATE HOW WAGES ARE DETERMINED IN AUSTRALIA, HSC 2011, Economics Course - final essay

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Wage Determination Esssay
Topics this document covers:
Law Labor Business Management Employment Unemployment Human resource management Minimum wage Australian labour law WorkChoices Australian workplace agreement Industrial relations Fair Work Australia Enterprise Bargaining Agreement Industrial award
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Topics this document covers:
Law Labor Business Management Employment Unemployment Human resource management Minimum wage Australian labour law WorkChoices Australian workplace agreement Industrial relations Fair Work Australia Enterprise Bargaining Agreement Industrial award
Sample Text:
Historically, wage determination in Australia has not been left to the free operation of the forces of demand and supply in the labour market. Instead, the government has played an important role in influencing wage outcomes either directly or indirectly, through independent industrial courts and tribunals. Australia’s industrial relations system is governed by the Fair Work Act (2009), which replaced the Workplace Relations Act 1996 with a national system of labour market regulation. The Fair Work system establishes three main streams in the labour market that determine the pay and conditions of employees: industrial awards, collective agreements and individual employment contracts. Ultimately, this system of wage determination is considered successful, with Australia sustaining moderate wage increases, low inflation a...
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