DFP Recruitment has released its mining and resources jobs index, which registered a 2.5% fall in July – the third consecutive monthly fall – with the index also down 9.8% over the quarter:
The trend shows no dramatic overnight fall but rather a steady month by month erosion in demand. The decline cannot be attributed to single events but rather a combination of factors also alluded to in our previous reports. It is encouraging to note that over the past 3-6 months demand has stabilised in the Queensland market. Unfortunately, the opposite has occurred in Western Australia with demand seeing a reduction that was not apparent late last year or in early 2014…
Exploration and Coal Mining stand out as the weakest performing sectors although Exploration shows signs of stabilisation…
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.
