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Found 10 results

  1. tisme

    Boom time

    Interesting read. http://au.finance.yahoo.com/news/We-three-speed-economy-yahoo7financewp-2890670532.html
  2. Contrary to what many amateur pundits believe, the head of the Treasury believes Australia is heading into a 'decades long boom'. This may give pause to those who are leaving money in the UK planning to bring it over to Aus in the future. http://www.theage.com.au/business/australia-entering-decades-of-boom-20110602-1fiwp.html
  3. There's a backlash brewing on multiple levels against aspects of Australia's resources boom, from complaints about “rich bogans” on disruptive big wages to ivory tower economists who'd like higher taxation to curtail the boom, with much of Australian business in the middle cursing the strength of the Australian dollar that flows from it. There might have been a tinge of jealousy in the reading of yesterday's labor costs statistics, showing the average wage in the mining industry is now six figures and therefore drawing away or starting to make more expensive skills in the cities. And Treasury Secretary Martin Parkinson this week warned that our dollar, stronger for longer, might be the biggest external shock to our economy yet. Parkinson was not being judgmental in that observation, merely stating the fact, but there has been a suspicion (denied) that some in Treasury would have been happy to see policy that limited the boom. Having spent the week on the boom's frontline in the north-west, flying into Broome and driving down to Port Hedland and Karratha, there's a simple message: get over it. Rediscover Australia's ability to rejoice in momentous achievements, in the capacity of Australians to work hard and change our world. It's a regular whinge that Australia hasn't done anything big since the Snowy Mountains Scheme and it's all the guvment's fault. That's a complaint made in ignorance. What's happening in the Pilbara dwarfs the mighty Snowy vision and is having a bigger impact on the nation. You can read about it all you like and watch the pictures on TV, but the scale of projects present, promised and possible are only fully appreciated when they're in front of you. I was hired to chair the inaugural Pilbara Pulse economic conference for the Karratha and Districts Chamber of Commerce and Industry – business people at the nation's frontier facing enormous challenges and problems. The biggest problems are those of too much success: a shortage of housing and commercial real estate that has pushed prices through the roof and, mainly because of that, a scarcity of labor, any labor, but especially skilled labor. Just for starters, an average house in Karratha costs a million dollars to buy – or $2,000 a week to rent. And even at those prices, rentals right now simply aren't available. Providing housing therefore is part of the deal in hiring labor - but that doesn't work if you are a small business person who has to do the providing for yourself and any employee. Commercial real estate is equally scarce, with the shire and state government running hard to try to catch up with demand that is running faster. That's why Karratha has no independent butcher, no dry cleaner, no bootmaker and probably no candle maker either. So yesterday's average mining industry wage has to be put in some perspective. The wages are high, but so are the costs on the frontier. And for those doing the fly-in-fly-out routine, well, the money would have to be good. Karratha has supermarkets, pubs, restaurants, the beautiful Dampier archipelago. (The town claims the nation's highest level of boat ownership per head of population.) On isolated mine and construction sites throughout the region, conditions are as comfortable. Perhaps at the extreme end of FIFO contracts, there presently is a workforce of 3000 people on Barrow Island building the Chevron-operated Gorgon LNG plant. They work 26 days on, then have 9 days off. And they're not eight hour days. Normally you'd have to commit some sort of crime to cop a sentence like that. The Gorgon construction force will peak at 5000, and then only a couple of hundred will be required to run the thing when completed. Those 5000 will move on to the next mega project – and there are many more - or return to their cities and towns having saved a stake, if they're smart, to buy a home or start a business. In the process, those people are building amazing wealth for the nation. Don't begrudge them big incomes, they are earning it. Don't just curse the source of our strong currency, realise we are collectively wealthier because of it, that our nation as a whole faces the problems of success. The challenge for the rest of us softies is to adjust and adapt our economy to handle it, to become smarter, more productive, more innovative as we are forced up the value chain by our currency. And if you're jealous of the big money earned by people on the frontline – and if you're mentally strong enough to handle it – you can always join them. The people building the Pilbara, building the nation's wealth, have much to be proud of. And we should be proud of them. Michael Pascoe is a BusinessDay contributing edit *Read more: http://www.theage.com.au/business/the-booms-frontline-where-the-high-wages-are-20110520-1evw3.html#ixzz1MxTiOIpF
  4. From The Australian: REGIONAL job figures counter widespread fears that the mining boom would generate a "two-speed" economy, showing that 70 per cent of the nation now has an unemployment rate of 6 per cent or less. The boom is spreading benefits nationally, reducing the jobless rates, leaving fewer pockets of high unemployment......
  5. Population boom inevitable, PM told
  6. Hi Guys I was having a look at the possibility of buying in Oz. We arent there yet - we dont even have our visa :biglaugh: but we are on our way, I just like to get in there and do loads of research. We are looking at the affordability of houses and it seems do-able but I noticed that the mortgage interest rates are around 6% !!!!! Does anybody know if this has always been the case in Oz - I know in Ireland at the moment my mortgage interest rate is 3.1% but thats probably due to the country being in a right state at the moment. 2 years ago i was paying nearly 5% interest rate so Im just wondering if there is a property boom over in Oz at the moment. I know we can get alot more for our money in Oz but because the interest rates being so high and the exchange rate being absolutely crap its made me wonder! Any comments would be much appreciated Suzanne
  7. I have just applied for and been granted a 12 month working holiday visa, and am planning on beggining this at the start of 2010. I am a qualified tree surgeon hoping to trade the south west of England for that of Oz, and intend to try and find work out there in this field, hopefully with a view to extending my stay there for another year, or perhaps permenantly. There is so much uncertainty here in Blighty, and having been made redundant from a previous employer when the recession hit I am curious to learn of the effect on the Arborist's business over in Australia. I have heard different and sometimes conflicting reports over this issue (and the employment issue in general) and it would be nice to know what i am letting myself in for. I have looked around a little, and there seem to be jobs in Melbourne and Sydney and i expect to end up going to both these areas. I remain hopefull that the economic climate out there remains relatively stable, but i guess, like most places at the moment, no one can really gaurantee anything. I would expect that like here, smaller firms that depend mostly on private sector works may be suffering as people tighten their purse strings, whereas the larger companies that win the tenders for big scale public contracts (parks & gardens etc) are not being affected as much. Any help or advice would be greatly appreciated, and it would be very interesting to hear from anyone who runs a firm or lives out there, has been, or is in the same situation as me now, or anyone who is currently working as an Arborist in Southern Austrailia. Cheers Gavo
  8. connaust

    Migrant Boom

    "ABS survey reveals migrant boom A report from the Australian Bureau of Statistics has found that more than a quarter of people living in Australia were born overseas. The report examined migration data for the financial year ending in mid 2008, and includes people who stay in the country for more than 12 months." The numbers have been inflated by various (anti immigration) researchers such as Bob Birrell of Monash University who recommends restricting opportunities for Australian immigration due to one or all of the following: environment, overpopulation, taking Aussie jobs, lack of English (too many NESBs Non English Speaking Background), lack of social assimiliation, lack of appreciation of Aussie values (whatever they are), forcing up house prices, lack of cross cultural skills, wrong colour, smelly food etc. etc. Migration statistics now include temporary visa holders e.g. students, 457, Working Holiday Visa etc. if they stay over one year.....a very significant increase compared to just PRs.....but (social and political "Skip") agenda in Oz seems to be scaring Australians into thinking they are being overrun....way of life being threatened....somethings never change....
  9. It has even hit the mega rich! Florence Chong | April 09, 2009 Article from: The Australian A MASSIVE $US166 billion ($230 billion) worth of projects planned for Dubai have turned to sand as money dries up, forcing developers to shelve projects. Dubai building boom in mass mothballing | The Australian
  10. keily

    mining boom

    hi ive just came back from perth in march while thare i noticed there is a shortage of excavator operators and lorry drivers in construction and mining . can anyone explain why the govt dont take in drivers of any kind as not just anyone can jump on a 100ton excavator and operate it safely.