Geelong’s boom pain
The rapid expansion in the mining industry over the past decade has done more harm than good to Geelong’s economy. Mining has created virtually no jobs in Geelong and has induced a high exchange rate that is crippling Geelong’s manufacturing industry with more than 1 in 8 manufacturing jobs lost over the past six years. Between the 2006 and 2011 census employment, jobs in manufacturing fell by over 1,100 or 13 per cent. On the upside the mining boom delivered Geelong 82 extra jobs in the mining industry. You don’t have to be an economist to understand these numbers don’t balance.
Related documents
Between the Lines Newsletter
The biggest stories and the best analysis from the team at the Australia Institute, delivered to your inbox every fortnight.
You might also like
RBA banks on higher unemployment, more pain
Today’s decision by the Reserve Bank of Australia to keep interest rates on hold will force more Australians into unemployment and, ultimately, into poverty.
All pain, no gain. Rate rise won’t bring down petrol prices, but it will hurt households
The Reserve Bank’s decision to raise interest rates today will inflict more unnecessary pain on households struggling with a long-running cost-of-living crisis and soaring fuel prices.
Hasty decision inflicts more pain and will cost jobs
By its own standards, today’s decision by the Reserve Bank of Australia to raise interest rates from 3.6 percent to 3.85 percent seems rushed and inconsistent.