Media Analysis Report On The Unemployment Of Bhp Billiton 's Job Cuts, Warns An Economist

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MEDIA ANALYSIS REPORT AUTHOR: Shayani Mukherjee DATE: 11th August 2015 TITLE OF THE ARTICLE: SA likely to witness a sharp increase in unemployment with BHP Billiton’s job cuts, warns an economist PUBLICATION: International Business Times (IB Times) 1 QUESTION 1: WHAT? (4 MARKS) 1.1 ECONOMIC CONCEPT(S): (1 MARK) The economic concepts that are present in this article include unemployment, more specifically, cyclical unemployment along with productivity and economic growth & activity. 1.2 KEY CAUSE: (1 MARK) Due to low levels of exports, the declining mining industry has resulted in the unemployment of workers of BHP Billiton. 1.3 KEY PLAYERS: (1 MARK) The key individuals who may be affected by this are workers who may have worked, or work, for BHP Billiton whilst the major player in this article is BHP Billiton itself. 1.4 KEY STATISTICS: (1 MARK)  The unemployment of BHP Billiton workers may result in the unemployment rates of South Australia to raise up to 9% in the next six months  Approximately 380 workers may lose their jobs (almost one tenth of their entire workforce)  Unemployment rates of South Australia has dropped from 8.2% to 7.9% in July, remaining as one of the highest unemployed states in Australia. 2 QUESTION 2: SO WHAT? (12 MARKS) 2.1 KEY EFFECT: (4 MARKS) BHP Billiton’s decision to dismiss one tenth of their workforce will increase South Australia’s unemployment significantly (up to approximately 9%) and may also compel workers to re-join the

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