There’s encouraging news for the South Australian economy with more employment growth, in the latest jobs figures for April.
The ABS Labour Force statistics released today showed the trend unemployment rate has remained steady at 6.0 percent.
A new record 854,300 (trend) and 855,500 (seasonally adjusted) South Australians were in jobs.
An additional 1600 new full-time jobs created in April and 12,700 full-time jobs created over the last year, which is a 2.3 percent growth rate. This is more than double the 20-year average of 0.9 percent growth for full-time employment.
The seasonally adjusted unemployment rate rose slightly in April to 6.1 percent, as the participation rate also increased 0.3 of a percentage point, contributing to the slightly higher figure, as more South Australians embrace the opportunity to look for work.
Minister for Innovation and Skills, David Pisoni, said the new record jobs figures reflect the Marshall Liberal Government’s policy shift that is stimulating the South Australian economy, with businesses and employers responding favourably.
“There was over 116 million hours worked in the economy in April, including an extra 2.7 million compared to the same period last year, which roughly equates to an extra $92 million paid in wages to South Australian workers,” he said.
“Over the past year an extra 27.2 million hours were worked in South Australia delivering nearly a billion dollars in extra wages
“But we recognise there is more work that needs to be done.”
The most recent Sensis Business Index for the 2019 March quarter shows that South Australian small and medium businesses (SMEs) are the most confident in nation with their business prospects.
Recent indicators suggest some softening (Business SA Survey of Business Expectations), which is why the Marshall Liberal Government continues to invest in jobs and skills growth, lower business costs and is actively driving growth in new industries, such as Defence, space, the creative industries and innovation precinct at Lot Fourteen.
“The biggest risk to South Australia’s growing job opportunities will be the election of a Shorten Labor Government with its high taxing anti-business policies” Minister Pisoni said.