Business

More job cuts possible as mining slow down affects economy

Professor John Rolfe from CQUniversity
Professor John Rolfe from CQUniversity Chris Ison

CQUNIVERSITY economics professor John Rolfe believes two key factors are to blame for the latest job cuts.

He said the first was that some projects in the resources industry were coming to an end and no new announcements were likely to eventuate in the current economic climate.

The second was that the mining companies were focused on cutting their operating costs to try to make their existing mines more efficient.

"Both of these factors are reducing expenditure into the business supply chain into Central Queensland," Professor Rolfe said.

The Rockhampton economy will see some flow-on effects of the slow down for another few months, and potentially some more job losses."

Other firms in the supply chain would see less business and cut their costs as well, he said.

He said on the positive side, the operations side of the mining industry should start to stabilise soon.

CQUniversity has announced that 200 jobs will go in order to improve the university's finances.

Job cut plague

Recent CQ job cuts:

200 jobs at Hastings Deering

200 CQUniversity jobs

35 jobs at the Goondicum ilmenite mine near Monto

Topics:  cquniversity, economics, job cuts, john rolfe, mining



Clive puts road before ramp

BITUMEN ROAD: Clive King wants the road to the Coorooman Creek boat ramp fixed before any further upgrades are made.

THE upgraded Coorooman Creek boat ramp has become a popular spot.

Suicide rate reaches 10-year high

Eight people per day last year took their own life

Local Partners

Katy Perry gets naked to encourage people to vote

Katy Perry in Funny Or Die sketch

Katy Perry has stripped naked for a comedy video

Jogging Tom Hanks crashes wedding in Central Park

Tom Hanks stopped for a selfie with this bride and groom

MOVIE REVIEW: Storks delivers family fun

A scene from the movie Storks.

ANIMATION can be hit or miss but when it hits, it hits hard.

Nick 'the snake' to call the shots on Survivor jury

Australian Survivor contestant Nick Iadanza.

LATEST evictee is out of the game but will still have a say.

Naomi Watts and Liev Schreiber split

Naomi Watts and Liev Schreiber

Naomi Watts and Liev Schreiber have split after 11 years together.

Why Chris Hemsworth was spotted wearing nail polish

RED CARPET: Do you think Chris Hemsworth is the typical unpolished but well-natured Aussie bloke?

He's now officially the best bloke in Australia

$40million hotel, shops development project for Mackay

Mt Pleasant hotel and retirement accommodation, proposed at 194-202 Malcomson St.

$40m development to take Mackay to 'the next level'

Projects hoped to revive Rockhampton real estate

There have been just over 800 house sales in Rockhampton this year

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

First stages of $25 million housing development underway

New development on Madsen Rd - The Springs.

The blocks of land are much bigger than usual

14% of renovators doing own electrical work?

Landscaping (46%), demolition (43%) and interior design (77%) are also often tackled head on by plucky homeowners.

And 12% said they did their own plumbing work