our pay levels so high and unemployment low ?

I can't understand how the unemployment level is not higher in Australia and our pay levels are not much lower - how can we compete with Asia ?

What are we manufacturing and how can we compete with Asia ?

Our mining industry doesn't employ many people, neither does our agricultural industry.

We are a nation of consumers and high wages - yet our unemployment is only 5% !

How ???

China, Vietnam etc.. are manufacturing and producing - doing something concrete other than consuming yet they are only paying their workers a pittance.

Why/how are our workers here paid so much - what is sustaining that and what is sustaining our low unemployment ?

Can someone explain it to me ?

The USA's real unemployment is above 16% according to many analysts - that's the no.1 nation in the world.