17th & 18th October
2001
And possibly even worse:
•Great Britain
has suffered the lowest level of labour productivity of all the European member states;
and
•The most
dramatic shake out of labour in the early 1990’s recession:
–Finland (worst affected
country) lost 40% of industry turnover and 40% of its labour force.
–UK lost 10% of industry
turnover and 30% of its labour force !
–ð
LESSON: low labour costs = low
productivity
!