Resources puts downward pressure on Qld unemployment

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Queenslanders should be encouraged the resources sector is doing its bit to put downward pressure on the States unemployment, which increased by 0.1% to 6.3%, Queensland Resources Council Chief Executive Ian Macfarlane said.

Mr Macfarlane said the resources sector has created more than 8400 jobs over the last 12 months – the equivalent of a new job every hour – and this was effectively a 0.4% cut to Queensland’s unemployment rate.

“Without the contribution of the resources sector, Queensland’s unemployment rate would be 6.7%. Without the contribution of the resources sector, Queensland’s unemployment rate would be the nation’s highest by 0.5% at 6.7%,” he said.

Mr Macfarlane said stable and predictable policy was critical to the continued growth in jobs in Queensland’s resources sector.

“Our industry needs stable and predictable policy to give it the confidence to invest more, export more and ultimately employ more in the sustainable, competitive and safe development of our coal, minerals, petroleum and gas,” he said.

“Without that, our sector’s confidence to invest, export and employ will be severely constrained.”

Mr Macfarlane said if the Palaszczuk Government continued to back the resources sector, the resources sector would continue to back Queenslanders, with more jobs and more opportunities.

“Every hour our industry is creating another job and investing another million dollars. Every week our industry is exporting another billion dollars and we are returning almost $100 million to the Palaszczuk Government in royalties,” he said.

“In regions like Mackay, the jobs impact has been significant. The unemployment rate has more than halved to 3.3%. Mackay is a critical services centre for the Bowen Basin,” he said.

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