"F&C" <none@hottmail.com> wrote in message 
news:4577b14b$0$5749$afc38c87@news.optusnet.com.au...
> http://www.smh.com.au/news/business/employment-growth-jumps-sharply/2006/12/07/1165081062893.html
>
> Unemployment now at record lows in Australia at 4.6%.
>
> Wonder what it is in those Euro-loser countries??
>
> 9.6% in Germany and recent news reports say that's GOOD news? 8.8% in
> France. Probably some ridiculously high figure in Scandinavia.
>
> SOMEONE explain to me how these Euro-loser countries which are meant to
> have highly educated people can produce such FAILED economies??
>
> Good work to the Americans though, they have a rate of 4.4%. Although it
> is worth mentioning that the minimum wage is twice as high in Australia.
>
> In fact, Australia has perhaps the highest minimum wage in the world,
> WITH extremely low unemployment. How come us uncooth Australians can
> manage our economy, whereas Europe is a failed state??
>
>

Better economic management, obviously.

France in particular has massive over-regulation in many areas, including 
highly restrictive labour markets, banking sector, and agricultural/farming 
sector.

Australia has a much freer economy, and has pursued trade liberalisation far 
more aggresively.

That's why we have been the fastest growing OECD economy over the last 10 
years.