Australia has had one of the most outstanding economies of the world in recent years.
As a high-growth, low-inflation, low interest rate economy, it is more vibrant than ever before.
There is an efficient government sector, a flexible labour market and a very competitive
business sector. With its abundant physical resources, Australia has enjoyed a high
standard of living since the nineteenth century. It has made a comparatively large
i nvestment in social infrastructure, including education, training, health and transport.
The Australian workforce has seen many improvements over the last decade,
leading to the surge in productivity in the 1990s. The complex and centralised
award based industrial relations system has given way to a more decentralised
one with many employees working under workplace agreements tailored to
meet enterprise needs.
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