 Since 2003, Australia experienced the effects of the 2000s commodities boom as commodities prices for major export good such as coal and iron ore rose significantly.This provided a large incentive for investment in the Newcastle and Hunter region due to its status as a major coal mining and export hub to Asian markets.Large projects related to the coal industry helped to propel the Newcastle unemployment rate to 20 year lows and allow the Newcastle region to weather the effects of the late 2000s recession better than NSW as a whole.