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We’ve known for over two years that this day was coming. But that won’t ease its economic and social pain. The shutdown of Australia’s mass motor vehicle assembly industry is now upon us. Ford’s assembly plant in Broadmeadows, Victoria, was the first to go dark: the final Aussie-made Ford has already rolled off the assembly
The state government of New South Wales recently awarded a contract for the purchase of 512 new intercity passenger rail cars to a consortium that will manufacture the equipment in South Korea. The contract is worth $2.3 billion, including an unspecified sum to cover maintenance of the double-decker cars over an initial 15-year period. The
New report from the Centre for Future Work ranks Prime Ministerships by 10 key economic performance indicators.
The problems in Australia’s manufacturing sector are well-known, and many Australians have concluded that the decline in manufacturing is inevitable and universal: that high-wage countries like Australia must accept the loss of manufacturing as an economic reality. But international statistics disprove this pessimism. Worldwide, manufacturing is growing, not shrinking, including in many advanced high-wage countries.
The insecure nature of work in Australia today can be illustrated through the following infographic (based on 2015 data published by the ABS). Australia has over 19 million residents of working age (which the ABS defines as anyone over 15). Of those, 12.5 million “participated” in the labour market (by working or actively seeking it). Participation has declined in recent years, in large part because of poor job prospects; that’s a turnaround from earlier decades when participation (especially by women) increased steadily.
This paper explores the cost of unpaid overtime, the extent to which Australian workers fail to take a break and the cost of work bleeding into everyday life.
Banks were portrayed as the villains of the global financial crisis; many of the big international banks and their executives were associated with greed and excessive risk-taking. Regulators were obliged to step in with unprecedented rescue packages to save the financial systems in the US, the UK and, to a lesser extent, the major European