Re:Australia hasn't had a recession for over 25 years
by Noseshine on Friday March 31, 2017 @09:26AM
(#14003474)
> Yes, despite it being the poster child, the mining sector only comprises 16-18% of the economy.
Uhmm.... I just pointed out that the use of the word "only" is not justified... :-)
> I can't remember exactly but the Banking sector in Australia may be the bigger than mining.
What do you mean by "larger"? Employ more people, pay more wages? Just "having" money (and large numbers in their balance sheets) is kind of a given for that sector.
Besides, the point never was finding the "biggest". Somebody can be a tall person even if they are not the "tallest". So large changes to that sector will have large effects to the overall economy, many of them indirect.
Uhmm.... I just pointed out that the use of the word "only" is not justified... :-)
> I can't remember exactly but the Banking sector in Australia may be the bigger than mining.
What do you mean by "larger"? Employ more people, pay more wages? Just "having" money (and large numbers in their balance sheets) is kind of a given for that sector.
Besides, the point never was finding the "biggest". Somebody can be a tall person even if they are not the "tallest". So large changes to that sector will have large effects to the overall economy, many of them indirect.