Where To Now Australia Like 0 Twitter Julian Groom Follow Sept. 12, 2016, 1:35 p.m. in Business Views: 549 Like us on facebook Australian Government - Canberra. Photo. 2016. Australia needs a more dynamic labour market when we consider the economic outlook. Spending by households is flat, most job growth is confined to part - time positions and people in general are anxious and uncertain about the economic future. The Australian nation is vulnerable to external shocks at a time of weak global growth and sluggish trade. Although the June 2016 quarter growth figure is encouraging it is heavily dependent on public sector spending. State infrastructure projects may leave lasting legacies but much government spending, commonwealth and state, is re - current and financed with the savings of foreigners. Australia needs renewed economic reform if it is to keep dodging recession. In recent times Australia has experienced a strong economic period with China's hunger for Australian resources. Royalties from iron ore and other minerals being given to the Australian government in Canberra from the record growth that the Australian mining industry experienced over the last 10 years. Canberra has struggled to develop new industries from the royalties, now that the Australian resource sector is in the mist of a major downturn. The population of Western Australia is growing at it's slowest rate in 13 years, with thousands of the states residents leaving for work in other parts of the country. The decline in mining investment and associated downturn in mining related employment has contributed to a sharp slowdown in Western Australia's population growth rate. Figures from the Australian Bureau Of Statistics highlight the challenges facing the State of Western Australia. With the total workers in mining slipping below 100,000 in the last three months. At the height of the economic mining boom there were over 120,000 West Australian's employed in the mining sector. Revenue in Western Australia has fallen 3.3% or $915 million with mining royalties down 10% or $477 million. GST / Goods & Services Taxes down 16.7 % or $377 million. North West Australia shelf petroleum grants down 28.7% or $249 million. The question on every bodies mind is can the current government hold it's nerve and re - build the economy. The politics are not easy especially with the opposition governments penchant for scare campaigns directed at the public. For the Australian small business community the next 6 - 12 month period will decide the fate of a lot of business operators in communities around Australia. We are at the crossroads as the countries deficit is growing rapidly out of control and this is going to be a huge burden for future generations of young Australians. What is needed is strong government action and leadership from Gillard to Rudd to Abbott and now Turnbull. Australia has lacked strong Prime Minister leadership in previous years. The time is now for the government to stand up. Where To Now Australia ... Share Mail Messenger Twitter Pinterest Linkedin Comments Related Article Business Know About TheInvestment Banking Jobs Australia And How To Apply For Them Business Why Australia Is The Best Place To Visit For Spending The Holidays? Business July Results!