Resources downturn slashes FIFO wages
MANY fly in, fly out (FIFO) workers are willing to take a pay cut of up to 27 per cent to survive the mining downturn, according to a new live market report. According to online labour market website FIFOBids, workers in management, health, safety and environment and geology had been most affected, with geologists willing to decrease their rates from $71 per hour to $52/hr, and management workers from $80/hr to $67/hr. “ downturn in mining and resources in Australia, as well as delays in approvals of major projects, has put downward pressure on demand for key skills and wages,” the report stated. Since last year the number of geologists in the field doubled as graduates entered the market –...