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WA Economy

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  • 02-03-2013 8:54am
    #1
    jj88998
    Registered Users Posts: 1 ✭


    I am thinking of coming to WA. I am hearing mixed stories of howthe economy is going. Has it slowed down or is their a mini recession going on?. Is their any truth in this.

    I have heard stories of people working in mining construction being made redundant.


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    #2
    catbear
    Closed Accounts Posts: 5,092 ✭✭✭catbear


    There have been layoffs amongst various mining companies but what's not clear sometimes from the headlines is if it construction crews finished their contract. However FMG, the third biggest miner in WA let go 1,000 last year when iron ore prices dropped to the point that they had trouble raising finance to complete new projects.
    If you get hired from Ireland to work in the everyday operations of a mine you may be on to something. But if you're taken on just for the construction phase then I would be cautious. I reckon the investment boom in mining could last a few more years but that all depends on China and the other main buyers of aussie exports. If there is a serious and sustained drop in ore prices this will have a huge impact on the whole western australian economy.
    So the real question is how well is china doing?


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    #3
    ifeelill
    Registered Users Posts: 502 ✭✭✭ifeelill


    Can't talk about any one state but if you look at the first link below you will see that there is some stagnation. However if you look at the second link you will see that the economy is trending upwards over the course of the last ten years. I must stress that these statistics represent the economy as a whole and not any one state. If i find any stats on WA i will post them on this thread.


    http://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/1345.0?opendocument?opendocument#from-banner=LN

    http://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/1370.0?opendocument#from-banner=LN


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