The end of the resources boom is not only leading to job losses in mining and construction but also in other industries such as manufacturing and financial services.
As the Australian reports, over the last three years employment has grown by an average of 1.2 per cent per year and unemployment has been rising at about 0.1 per cent a quarter for the last nine months.
And the end of the boom has already resulted in zero employment growth in Queensland and Western Australia since last November. At that time, Chinese demand for resources began to fall.
As reported in Quest newspapers, the unemployment rate in some of Brisbane’s southern suburbs is more than triple the state average.
Statistics from the Department of Education, Employment and Workplace Relations statistics for the March quarter show that Acacia Ridge has an unemployment rates of 19 per cent, while Inala, Richlands and Durack have rates of around 25 per cent.
Professor John Quiggin from the University of Queensland School of Economics said the high rates can be explained by factors such as the loss of manufacturing jobs in outer suburbs, job losses in the public sector, and low income earners moving from the inner city to outer suburbs because of high living costs.