In the Aussie press (its not new news, just an FYI):
- A research note from ANZ says 75,000 mining-related jobs are at risk as Australia enters “phase three” of the mining boom.
- As investment in the sector tapers off and construction gives way to operation, resource-related roles around the country face a heavy cull
- Senior economist at ANZ, Justin Fabo, said to expect between 50 and 75 thousand job losses as mining employment crashes to 3% of the gross domestic product from highs of eight per cent
- Also warned a softening of commodity prices could make the news worse for those working in and servicing the sector
- “So we think the unemployment rate will be in spitting distance of 6 per cent over the next 12 months, and for improvement after that to be gradual.’’
