Home' Employment Forecast : MyCareer Employment Forecast 2010 October Edition Contents Total Jobs
The return to the resources boom is apparent in the Mining Sector, with jobs growing strongly. The value to Australia of this sector
is staggering, the top two in 2009/10 being iron ore exports worth $34.5 billion and metallurgical coal worth $24.5 billion. In fact,
overall mining exports are worth fve times as much as Australia’s agricultural exports. Profts in the sector have jumped 63%, the
most since the mid-1990s as demand from China, India and other Asian countries for resources continues to fuel the sector. The
Mining Sector is also looking at investing, with spending up 74% to $60 billion in 2010/11. Already Rio Tinto is poised to reactivate a
$1.65 billion expansion of its Argyle diamond mine in WA. The company has also announced a $1.07 billion development of its Weipa
The strong re-emergence of this industry has contributed to a big turnaround for BHP, its base metals division increasing proft by
a massive 259% this fnancial year. The company’s metallurgical coal exports also took a massive jump in value, from $3.5 billion
to $8.5 billion, in the June 10 quarter.
WA is by far the dominant area, accounting for 42.5% of total Australian jobs in the Mining Sector. The jobs growth in that state
is particularly strong and already there are reports of skills shortages. The resurgence in mining is yet to translate to jobs growth
in SA and Queensland. In Queensland, although the coal mining sub-sector is growing, metals mining is yet to catch up. This is the
same situation in SA, with metals mining yet to grow jobs. NSW is also growing jobs, especially in coal mining. Victoria has a small
mining industry but nevertheless is adding jobs.
In terms of the outlook, business confdence in this sector is also very high, the highest of all the sectors monitored and on a trend
basis is only a little behind the levels recorded in 2005 and 2006. Job vacancies as at August 2010 as measured by the ABS are at
a peak (7,100) beating the previous record of 6,000 in May 2008. This, combined with continued growth in demand from China and
India for our resources, means the jobs outlook is strong, with jobs forecast to be growing by 20.2% on an annual basis by
May 2011. The diffculty for this sector will be fnding enough skilled workers in the future.
MyCareer Employment Forecast
This sector has returned as a real economic powerhouse for Australia
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