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Unemployment rateEmployment grew by 1.0 percent in 001, while the unemployment rate increased steadily over most of the year to peak at 7.0 per cent in October 001, before declining slightly to 6.7 percent in December 001.Inflation rateThe Australian Consumer Price Index (CPI) increased by .1 percent through the year to the December quarter 001. Various one-off factors added to inflation over that period. The price of meat, seafood, fruit and vegetables increased substantially through the year. In addition, some price effects have resulted from the events of September 11, the collapse of a major Australian insurance firm (HIH) and the second largest Australian airline (Ansett). These upwards price movements were offset somewhat by a significant decline in petrol prices over the year due to a fall in global oil prices.
Skill level of workforceAustralia offers workforce for financial services with a unique mix of skilled, multilingual and low-cost personeel-a combination that cannot be matched elsewhere in the Asia-Pacific region. The attractiveness of Australia's financial services workforce is complemented by excellent education and the training facilities, sound regulation and high quality of life. All these factors give Australia a competitive advantage in the provision of financial service within the Asian time zone.Exchange RateAustralia has had a floating exchange rate. The Reserve Bank of Australia may undertake foreign exchange market operations when the market threatens to become excessively volatile or when the exchange rate is clearly inconsistent with underlying economic fundamentals. These operations are invariably aimed at stabilising market conditions rather than meeting exchange rate targets.During 001, the Australian dollar appreciated (in nominal terms) 4. percent against the Japanese yen. It depreciated 8.5 percent against the US dollar and . percent against the euro. The Australian dollar also fell against the currencies of Australias other major trading partners, which contributed to a .1 percent fall in the trade-weighted index. The exchange rate depreciation in 001 improved Australias international price competitiveness, cushioning the adverse effect of the global downturn on economic activity. Please note that this sample paper on Australia government intervention is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on Australia government intervention, we are here to assist you. Your cheap custom college paper on Australia government intervention will be written from scratch, so you do not have to worry about its originality.
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