Mining spurs resurgence
Jobs go begging as real estate soars
JOBS with six-figure salaries are going begging and a real estate boom is blossoming as the mining industry wakes from a seven-year slumber and fuels an economic resurgence across regional Queensland.
In Mount Isa, global demand for copper and zinc is underwriting an economic resurgence steadily pushing up real estate prices, and frustrating bosses who cannot find enough workers to fill positions. With around 1400 vacancies in the Queensland mining sector – half of them paying more than $100,000 a year – mining bosses have found themselves up against strong competition in civil construction.
In Mackay the jobs are going begging and the rental market is tightening rapidly, while real estate prices have soared in Moranbah in Mackay’s hinterland by more than 20 per cent in the past year.
Mackay Mayor Greg Williamson said there were as many as 2800 jobs (in all sectors) on offer as region witnesses a mining recovery Cr Williams sees as more sustainable than the early 21st century boom.
Capital works around Mackay are also bolstering the construction industry.
But it’s the coal prices, which put the spot price for thermal coal near a $120 a tonne, which are creating the long-term employment prospects and fuelling wage growth in a city where growing business confidence has replaced the gloom.