Narrow Escape From GFC - Thanks To Labor

The return of the Gillard Labor Government to power is fundamentally important to working people.

Despite the Australian electorate's flirtation with the idea of a Tony Abbott led Coalition Government, the differences on economic policy between Labor and the Coalition could not in reality be more stark.

Working people should make no mistake.  The responsive and targeted stimulus package that was implemented by Labor in government in response to the Global Financial Crisis (GFC) was absolutely critical.  It helped keep Australia from recession, maintaining working people in employment.
We can see the impact of the stimulus package in Australia's container and bulk commodity trade.  Despite the GFC, which led to a sudden decline in container throughput at Australia's major container ports, the recovery was equally dramatic.  

Recovery to pre GFC levels being achieved in a time that exceeded everyone's expectations.  

In large measure this can be directly attributed to Labor's economic strategy.
A review of what is happening globally makes for sobering reading. The ILO estimates that the worldwide level of unemployment has reached its highest level in history, with 210 million people out of work.

More than 30 million people have lost their jobs since 2007.

Jobs and income security is a fundamental role of social democratic movements.

Labor in power and the efforts of the trade union movement to respond positively to potential job losses demonstrates during the GFC demonstrates what can be achieved.  

The Coalition policies would have devastated jobs and damaged industry and investment.
At a recent conference jointly hosed by the International Labour Organisation (ILO) and the International Monetary Fund (IMF), the ILO called for an employment-oriented framework to create more than 440 million new jobs over the next 10 years to reverse the unemployment caused by the GFC.
The ITF and other Global Union Federations, working in concert with the Sharan Burrow led International Trade Union Confederation, is committed to working with the international institutions towards this gaol.
At home we need to ensure we regenerate Labor to keep it in power for not just the next three years, but for several terms.  We need to do this to ensure that job and income security and decent work remain as real and tangible outcomes from a well managed Australian economy.