New data from the Illawarra Regional Information Service confirms employment in the region’s mines is at a 20-year high and according to the Hunter Valley Research Foundation, unemployment in the Upper Hunter is a low 2.8%, significantly lower than the state-wide unemployment rate of 5.6%.

NSW Minerals Council chief executive Stephen Galilee said the state’s minerals industry provided an opportunity to keep the state economy buoyant as it braced for an uncertain year ahead.

“Job losses announced this week and warnings from the NSW treasurer about a contraction of the financial sector are concerning as the problems in Europe continue to cast a shadow over our economy,” he said.

“But the strong growth in mining jobs shows a way to help protect our state from future economic difficulties.”

Galilee said in the Hunter, the Illawarra and the state’s Central West, mining was delivering strong economic activity outside Sydney that could help to counter the difficulties faced in other sectors.

“And given every direct mining job generates at least three additional indirect jobs, it is clear that growth in mining can deliver right across the economy at a time when other sectors are shedding jobs,” he said.

The mining industry was making 20 and 30-year investments in infrastructure and economically sustainable jobs that created a positive flow-on effect into the rest of the economy, Galilee said.

The new projects and infrastructure being planned will contribute to strong state growth through jobs and billions of dollars in investment.

“Our industry can be a stabilising influence on the NSW economy and generate terrific returns for the people of NSW through successive rounds of business activity and royalty payments to the NSW government – tipped to total $8.5 billion over the next four years,” he said.

“Mining in NSW accounts for 2.5% of gross state product and has the potential to make an even greater contribution to the economy and NSW budget – but only under the right policy settings.”