ghost towns, page-5

There are a great deal of job losses going on in resources.

Over the past 10 months, the people quoted in this article estimated there have been 4000 job losses in engineering firms
http://au.news.yahoo.com/local/wa/a/-/local/17149226/alcoa-slugs-local-suppliers/


This is definitely accelerating. In the past 2 weeks Coffey and Golder both laid off about 50 in Perth. All these engineering places are leading indicators. They design things for mines. So if they aren't getting work to design, that would indicate that very shortly the contractors who builds things for mines will start to hurt. I have heard through contacts in the industry that this is occurring now.

Many gold mines are currently running at a loss owing to lower prices. They may soon begin layoffs (or have already started). Nickel is hurting. Even the big iron ore miners are cost cutting a lot, and future expansions looking less likely.