Abstract

Keeping a watching brief on the effect of the Gfc in Australia has been like riding a rollercoaster. News reports fluctuate between dire predictions of economic calamity, and tentatively optimistic anticipation of a mild and short-lived market correction. It has been encouraging that the government has largely kept faith with the electorate in continuing with its major Fair Work reforms, and that these new laws - along with the fiscal stimulus measures - should go some way to supporting those workers most vulnerable in these economic times. It has also been reassuring to see the employers and unions in many of the most vital Australian industries working cooperatively to ensure mutual survival in difficult times.