Mining - going Boom or Bust?

October 15, 2012

Reports in the media are rife with news that the mining boom may be a thing of the recent past.

Reports in the media are rife with news that the mining boom may be a thing of the recent past. We took a look to determine just how this could impact on your employment opportunities.

Figures released by the Australian Bureau of Statistics (ABS) at the end of August indicate there is very good news for Australia in the area of capital investment. The figures show a marked increase in forecast mining investment during the current financial year and further increases moving forward into 2013 which should go a long way to allay any fears of economic turmoil.

Prime Minister Julia Gillard, herself, recently addressing a mining conference in Perth stated, ‘Reports of the mining boom’s death have been exaggerated.’

Ms Gillard gave insight into the big-picture outlook for the industry, indicating that whilst the commodity price (phase 1) may be petering out investment, (phase 2) is only warming up. These claims are seemingly supported by the ABS figures. Production (phase 3) will then follow, which should substantially contribute to the economy for many years to come.

So what does this mean for jobseekers?

There is no question that this means there will be periodic shifts in the areas offering the most employment opportunities. Certain commodities will fly high whilst others will come under pressure. It would therefore pay to stay apprised of specific job opportunities and skill sets being sought by potential employers across these distinct commodity groups.

Once you have a better picture of the hot areas and the not so hot ones, then also seek to continuously pinpoint your transferable skills and look into industry training that will make you more flexible and therefore more employable, well into the future.