Australia is a land abundant in natural resources: iron ore, coal, diamonds, gold, and oil and gas. It is so flush with natural resources it is central to the Nations mythology: the country ‘rode on the sheep’s back’ as ‘the lucky country’. Although Australia enjoyed a continuously growing economy and relatively low unemployment for the past 20 years, the global financial crisis wiped out a quarter of a million jobs down under, and many parts of the mining industry are feeling the effects of a post- resources boom. As a result, unemployment among young people has skyrocketed, forcing the nation to confront the fact that for its luck to continue it must develop more than its mineral and energy resources, it must develop its most valuable resources of all: its human capital.
Source: http://huff.to/2peqW4m
