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  • Interesting Employment Facts about the Australian Resources Boom


    The Reserve Bank of Australia (RBA) released interesting figures last week in the Industry Dimensions of the Resource Boom research paper that indicated the resources boom is having a bigger impact on employment than previously thought. Steve Knott, AMMA CEO, reminded everyone just how much the mining industry, oil and gas industry, and allied construction sectors contribute to the Australian workforce and the overall economy.

    “The resource industry continues to be the fastest growing source of employment for Australians, having created 130,000 direct jobs over the past five years and 28,500 new Australian jobs in 2012 alone,” he said.

    Key findings of the RBA report

    The report provided the following detail showing the resources boom is having a long-reaching effect on the entire economy.
    • About 1.1 million Australians are employed directly in the resources industry or as a direct result of industry. Employment figures account for 9.75% of total employment in 2012 through related job creation in other sectors servicing the industry.
    • Three times more Australians are employed due to the resource industry than originally thought.
    •  Approximately $250 billion of Australia’s annual output can be attributed to the economy generated by the resources industry.
    • Total employment figures have doubled since 2003/2004 as a result of the resources industry.
    It also turns out the vast majority of workers are, in fact, from Australia. According to Mr. Knott, Department of Immigration statistics show more than 92% of the new jobs created in the industry are filled by Australian employees.


    Migration still plays a vital role in mining boom

    In a statement released this week, Mr. Knott discusses the small but important role skilled migration has on the Australian resources industry.

    “While more than 92 per cent of new mining jobs are filled by Australian people, skilled migration remains a very small, but very important part of our country’s resource investment opportunity,” he explains.

    These projects go on to create many thousands of local Australian jobs, as highlighted last week by a Reserve Bank discussion paper which showed the resource industry has indirectly created up to 1.1 million Australian jobs through flow-on effects in our economy.