If you want a good indicator for mining investment, look no further than Australia’s geoscientists (geologists), who are at the forefront of mineral exploration.
According to the latest quarterly survey by the Australian Institute of Geoscientists (AIG), labour underutilisation amongst Australia’s geoscientists is now tracking at 35% – the highest level since the survey began at the end of the GFC in 2009, with little turnaround in sight. From ABC News:
More than 35 per cent of geoscientists are unemployed or underemployed as low commodity prices push exploration spending to a near decade low…
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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.
More than 35 per cent of geoscientists are unemployed or underemployed as low commodity prices push exploration spending to a near decade low…
