The Australian mining sector expects a decline in employment in Q4 2013, according to the Manpower Employment Outlook Survey, with a net employment outlook of -6%. This matches the previous weakest forecast since the survey began in Q3 2003. The outlook declines by 4% on the previous quarter and is 16% down when compared with Q4 2012.
The Australian mining sector has been hit by high costs and low prices. A number of major mining companies, including Peabody Energy and Glencore Xstrata, have announced job losses with the Australian Coal Association estimating that about 9000 jobs have been lost in the Queensland and New South Wales coal sectors alone in the 15 months to June.
The Manpower Employment Outlook Survey asks over 65,000 employers in 42 countries about their intentions to increase or decrease the number of employees in their workforce during the next quarter.
Edited from various sources by Jonathan Rowland
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