In Recent Decades, the Rate of Unemployment Has Declined in Australia

question 195

True/False

In recent decades, the rate of unemployment has declined in Australia as the result of reform measures introduced by the government to cope with competition from Asia.

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Definitions:

Job Evaluation

A systematic process for determining the value and rank of a job in an organization relative to other jobs.

Wage Survey Data

Information collected on wage rates for various jobs within an industry or region, used to compare and set competitive salaries.

Internal Equity

A pay strategy ensuring fairness in employees' wages within the same organization, based on job value and employee contribution.

External Equity

A principle in compensation management that ensures an organization's pay rates are competitive with those in the external labor market.