t's not just QANTAS or the aviation industry that's being eroded, it's very much the whole workforce throughout Australia. You would have only had to listen to the news over the last week or two to see the jobs being shed.
ANZ - 1,000
Westpac - 350-450
QANTAS - 500 (additional to 1,000 last year)
Air Australia - in administration
Rigby Kell (home builder) - bankrupt and a couple of hundred jobs there
Alcoa
Heinz and the list goes on
And this may be a bigger problem then most think. Australian have a record level of personal debt, eg credit cards and houses. A little upset and the ever so great housing industry will start to crack, and before you know it the ranga will bail out the banks with you tax money.
This is all happening with europe going tits up, US in a deep recession/depression, and soon war with Iran. See the trend?