Bob Baur , chief global economist from Principal Global Investors , said Australia 's domestic labour market needs reform . He claimed Australians needed to take a pay cut and less holidays . Dr. Baur said the dollar was too high and the labour market restrictive . The Australian Council of Trade Unions has labelled the claims ludicrous . In an interview with ABC News on Monday morning Dr Bauer said he believed that wages were not being kept down by low interest rates but rather because employers are reluctant to hire new workers due to fears
Bob Baur , chief global economist from Principal Global Investors , said Australia 's domestic labour market needs reform . He claimed Australians needed to take a pay cut and less holidays . Dr. Baur said the dollar was too high and the labour market restrictive . The Australian Council of Trade Unions has labelled the claims ludicrous . The industry body said Mr Abbott was to blame for driving jobs offshore .