Australia's aged care crisis escalates - staff shortage doubles
Key factors in Australia's poor ranking for labour market competitiveness included the high Australian dollar, skills shortages and the re-emergence of industrial relations as a key national issue, with a number of high profile disputes.
The World Competitiveness Yearbook survey has over 300 individual criteria rankings grouped into four competitiveness factors:
2012 World Competitiveness Yearbook is produced by the Switzerland based IMD World Competitiveness Center with the help of CEDA in Australia and other international partners.
The IMD World Competitiveness Yearbook compares and ranks 59 countries on business competiveness criteria and is the world's most renowned and comprehensive annual report on the competitiveness of nations.