The Talent War | The Mining Battle | The case of Australia

Shortages of skilled labour – in fact, any labour at all – in mining regions drives wages and salaries to stratospheric levels, in turn bidding up prices for accommodation, food and local services. This makes life very difficult for individuals and families who do not benefit directly from inflated incomes and yet also face inflated prices for basic goods and services in regions affected by the mining boom.

Broadly speaking, investment has moved from the south and east of Australia, where most people live and work, to the north and west of the continent, where most of the mineral wealth lies. There is a parallel movement of capital away from low-productivity sectors like manufacturing and retail trade towards high-productivity mining and related services. This is not only to be expected but also welcomed, as Australia struggles with declining average productivity levels.

How we cope with the changing pattern of demand for labour, especially skilled labour, will determine how well we manage the mining boom. Ways must be found simultaneously to meet the needs of the mining sector and to ensure that the non-mining sector realises improvements in efficiency and productivity sufficient to allow it to survive the boom…

Source:

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 Read More @ Closing the mining boom gap | Ian Harper | Commentary | Business Spectator.

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