Workforce forecast shows dimming Qld demand

A new resource sector jobs report shows Queensland is losing its investment edge and being well overtaken by NSW, according to the Australian Resources & Energy Employer Association. Resources and Energy Workforce Forecast: 2024-2029 breaks down the estimated labour required to operate new, expansion and restarted mining and oil and gas projects. "In 2022, this report forecast 5560 new jobs in Queensland’s major project pipeline. In 2023, the figure was 4470, and this year, just 3527,” AREEA chief executive officer Steve Knott said.“There can be no doubt the Queensland Government’s intransigence over its decision to massively increase coal royalties has taken a toll on investor confidence in the state across the sector. “It’s yet another signal to all governments that ill-advised and short-sighted policy settings can seriously risk the strength and significant contribution of Australia’s resources and energy industry.” The report shows 107 major resources and energy projects in Australia’s investment pipeline – either already committed or considered advanced – expected to enter production between the second half of 2024 and the end of 2029.These projects are worth about $131 billion and are forecast to drive demand for around 26,810 new production-related jobs. It lists 10 new projects for Queensland, four expansions and two reactivations either committed or likely to proceed between 2024-2029. Total estimated value is $13.2 billion. The report notes that investments in continuity expansion projects that would not create new jobs – such as Caval Ridge and Ensham – were not included in the workforce demand forecasts. In May 2024 Queensland’s resources and energy industry directly employed 77,900 people, the report states. Bucking the trend nationally, and in steep contrast to WA and NSW, Queensland has increased its resources and energy workforce by about 6000 people over the past year. Mining commodities retaining their traditional strengths include coal (13 projects for 4836 workers nationwide), iron ore (eight projects for 4495 workers), gold (13 projects for 2830 workers) and critical minerals (14 projects for 3078 workers).“Put simply, the first back-to-back Commonwealth surpluses in 16 years were not delivered by a magic turnaround in our nation’s economic management, they were delivered by Australia’s resources and energy sector," Mr Nott said. “Without the contribution of Australia’s mining and energy projects, vital services such as Medicare, the NDIS, hospitals, schools and aged care would be deprived of critical investment.“Yet Australia is on the threshold of a bizarre new era, where regulatory red tape, activism and unproductive workplace relations policies threaten the next wave of revenue and job-creating resources and energy projects.“Approvals for major ventures such as the McPhillamys gold mine in New South Wales – which offered 1000 jobs (construction and production) and had the full support of the local community – are being pulled from underneath investors at the eleventh hour.“Several multi-billion-dollar LNG projects, offering much needed domestic gas supply and further export earnings, are being frustrated by continuous environmental and cultural heritage lawfare. “Despite the Albanese Government suggesting the sector wouldn’t be impacted, miners are being dragged into multi-employer bargaining and face the risk of industry-wide strikes.“Thousands of workers will soon be paid according to bargained terms and conditions of other businesses, and unions have been given a legislated leg-up to force themselves into workplaces and entire industries that have long since left them behind.“All Australians should be concerned about what that means for their livelihoods and lifestyles.“AREEA’s report shows Australia remains an attractive place to invest in new resources and energy projects – for now. We cannot afford to stifle business and strangle the golden goose.”

Workforce forecast shows dimming Qld demand

Industry Queensland

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