In a suburb of one of the world's most isolated cities, Australian Prime Minister Kevin Rudd wants you to know that he feels your pain to a point. A bedroom community of Perth, Western Australia, Cockburn until recently shared in the buoyant growth rates that turned this part of the southern continent into a giant construction zone. No more. As Australia's great mining boom deflated due to slackening demand from China and the global recession, the region around Cockburn saw unemployment go from 2.1% last October to 7.2% in April. Roughly a year and a half...
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