Mining boom

[BayView]

1 of 7 countries to hold AAA... what a sad state of affairs!

http://www.perthnow.com.au/money/australian-economy-gets-aaa-rating/story-e6frg2uc-1226477281917

As stated;

Many here have just poohoo'ed it and reckon it's better than that......

The media can drum it up till the cows come home (and we know the Gubbmint will always drum it up no matter what), but I can't remember a time of more job losses than the last couple of years, business and resi lending is down, business and consumer confidence is down and spending has slowed markedly - endless clearance sales to keep the cashflow going notwithstanding.

Here in our little world on this forum where the majority of us are high earning, no worries little vegemites; it would all seem rose coloured.

 

[lizzie]

but there comes a point where you just can't pay people that kind of money and still make a profit or expand your business.

I know the big money was paid to entice workers - but, for the life of me, I cannot understand why the huge money is paid in the mines for many of the jobs.

Truck drivers earning more than $150k yr for working 7 fortnightly 12 hour shifts? I don't get it.

Hubby's starting wage (bottom rung) is higher at the mine than his finishing wage at his previous job where he was top of his profession - for the same skills, knowledge and ability - not that I'm complaining mind but this sort of "overpayment" is one reason why the mining companies are shedding jobs atm.

As for jobs back east? Many moved into the mines because the jobs were disappearing in construction, trades and admin - now that the mines are shedding, there are no jobs for them to go back to.

It is a time to harden up and innovate

 

[Jenko]

Some more info for those that are interested rpdata.com/2012/09/how-will-the-mining-boom-look-a-year-from-now/