DFP Recruitment has released its mining and resources jobs index, which registered a 5.4% fall in August – the fourth consecutive monthly fall – with the index also down 9.9% over the quarter and by 34% over the year. Western Australia has also led the decline:
The rate of decline seen over the past 12 months is concerning for all engaged within the industry. The iron ore price has recently hit 5 year lows exposing a number of the higher cost producers and we are continuing to see deeper cost cutting measures introduced. The repeal of the mining tax has been well received by industry stakeholders; however, with depressed mineral prices across iron ore, coal and gold, we await the impact on exploration activity…
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
