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What is an Australian Job Worth?

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  • Paul Oslington

Abstract

The value of a job is an important issue for management, human resources, law and public policy, yet we lack good empirical estimates of this value. This article presents a theoretical framework for valuing jobs and estimates the average economic value of an Australian job at approximately $104,000. However, judges awarding compensation for unfair dismissal under the Fair Work Act implicitly value a job at around $10,000. If the economic value estimate is correct then workers place a high value on keeping their job, which has important human resources management implications, such as worker commitment and risk‐taking.

Suggested Citation

  • Paul Oslington, 2020. "What is an Australian Job Worth?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 53(4), pages 482-493, December.
    • Handle: RePEc:bla:ausecr:v:53:y:2020:i:4:p:482-493
    DOI: 10.1111/1467-8462.12384
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    References listed on IDEAS

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    Cited by:

    1. Benoit Pierre Freyens & Paul Oslington, 2021. "The impact of unfair dismissal regulation: Evidence from an Australian natural experiment," LABOUR, CEIS, vol. 35(2), pages 264-290, June.

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