Queensland lags in forecast resources jobs creation

The Queensland resources industry was likely to be a poor performer in jobs creation for the near future according to the peak industry body behind the Resources and Energy Workforce Forecast: 2023-2028 report. All jurisdictions are trending up to the point where the sector will require an additional 28,260 workers by the end of 2028 said the Australian Resources & Energy Employer Association (AREEA). Queensland, however, was an emerging ‘problem child’ due to state government policy settings, said AREEA chief executive Steve Knott. This was both in terms of project capital (down 15 per cent) and prospective employment growth (down 20 per cent) on last year’s numbers. While still a healthy pipeline, the Queensland Government’s snap decision to massively increase coal royalties had taken its toll on investor confidence, Mr Knott said. “Several large coal projects were cancelled or deferred indefinitely,” he said.“Queensland is the only state to have reduced major project workforce numbers in this year’s forecasting report compared to last year.“While the overall number of projects (16) remains the same as 2022, the number of forecast new jobs over the projected five-year period is down from 5560 in last year’s report to 4470 this year. “Last year AREEA forecast 10 coal projects would create demand for 4400 jobs over five years (2022-2027). This year, that number is six coal projects (2023-2028) with forecast workforce demand near halving at 2600. “Hopefully, the Queensland Government will reconsider its short-sighted approach. “This is a timely reminder to policymakers that the strength and contribution of the industry cannot be taken for granted. Mooted changes to federal taxation, environmental and energy policy must be treated with equal caution.” The stats behind the report The forecast breaks down the estimated labour required to operate new, expansion and restarted mining and oil and gas projects expected to enter production in the timeframe. The fourth annual edition in this series lists 103 projects as being either committed or advanced in feasibility and considered likely to proceed within the five-year period. The 28,260 production-related jobs will grow the workforce by 9 per cent and are up fromforecast demand of 24,000 new jobs just 12 months ago. Eighty-four mining projects are included in the modelling, needing around 24,300 workers. The bulk of this demand will come over the next three years, with more than 19,000 workers expected to be required by the end of 2025. Coal (13 projects for 5000 workers) and iron ore (nine projects for 4235 workers) are the leading employment and economic generators. Gold is also on the up with 11 projects set to create 2500 new jobs over three years. Challenges The report showed the ongoing resilience of Australia’s resources and energy industry in the face of a combination of challenges, said AREEA chief executive Steve Knott AM. “Despite domestic policy pressures, global economic and geopolitical headwinds, the number of projects, jobs and capital investment on the horizon is only trending upwards,” Mr Knott said. Mr Knott said the report underscored the importance of the resources and energy industry to the security and prosperity of all Australians. “Australia’s mining sector contributes to around 13.7 per cent of GDP, comprises over two-thirds of exports and directly employs more than a quarter of a million people,“ he said. “In fact, resources and energy industry employment surpassed the 300,000 mark for the first time in mid-2022 and has only grown since.”

Queensland lags in forecast resources jobs creation

Industry Queensland

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