The economy in Western Australia has been strongly dominated by the mining industry for a long time. In fact, it might be safe to say the mining industry was responsible for carrying Australia through the Global Economic Crisis.
Unfortunately, the party cannot last forever. According to Australian Bureau of Statistics, the employment rate is down, especially so in the mining industry. Other than Iron Ore mining, employment rates in all other mining sectors have fallen by the end of the financial year 2014 – 2015.
The Australian Bureau of statistics reported that:
- 6.2% of Australians are unemployed.
- 64.8% of Australians are either employed or looking for work.
- Full-time employment decreased by 0.27%.
Now that the mining industry is experiencing a downturn and employment rates are going down, there needs to be a contingency plan for people who were once engaged with the mining sector. What are the other industries that are now rising? Are there any other industries I’m interested in? What can I study to re-skill in preparation for bad news? These are questions that need to be answered in times of economic instability.
Perform Zone has been monitoring the number of advertisements placed on Seek, MyCareer and CareerOne for the past year.
- The number of advertised jobs has been gently increasing since the start of the year.
- In May we averaged 53,000 job adverts a week.
- Most jobs being advertised were in the IT industry.
With the proliferation of the internet in our daily lives, it is safe to assume the IT industry is not going anywhere. As seen in the survey by Perform Zone, we can see despite the economic downturn, demand for IT professionals is still going strong. Taking the time to re-skill is important in today’s economy. Not only would learning IT skills make you a more desirable employee, it also gives you another set of skills you can bank on when times get hard.
Perhaps the economy will get better, perhaps it won’t. Doing the smart thing and up-skilling however, should be something everyone thinks about, no matter how experienced they are.