The global financial crisis, employment relations and the labour market in Singapore and Australia

Abstract

This article examines the impact of the global financial crisis (GFC) on two Asia-Pacific countries – Singapore and Australia. After briefly outlining the origins and effect of the GFC in each country, it explores the responses to the crisis from government and policy-makers. The article uses a case study methodology, drawing on key macroeconomic and labour market statistics, statements by trade unions, employer associations and governments and related agencies as well as published expert commentary and analysis. The article argues that, along with extensive stimulus measures, tripartite efforts and labour market interventions contributed to the resilience observed in both cases.