The recent announcement that Toyota are ceasing car making in Australia in 2017 further highlights a problem that we have in this country.
Much has been said about the exchange rate of the Australian dollar and the small market that is Australia. There is however one fact that is overlooked or not given due importance. That is productivity.
For Instance. Japanese car workers are paid roughly the equivalent of Australian workers but for every two cars produced by a worker here the Japanese workers produce three.
We appear to have this feeling of entitlement here in Australia. We may have better wages, better conditions, more holidays, shorter working hours etc....BUT in the global markets that exist today are these entitlements sustainable????