Good news as unemployment rate falls again

South Australia’s unemployment rate has fallen to a nine year low with the rate dipping to 5.3 per cent after a fall of half a percentage point in today’s Australian Bureau of Statistics labour force data.

The youth unemployment has fallen to its lowest level in the last decade and now sits below the national figure.

The number of underemployed in South Australia has fallen to its lowest level in almost 7 years.

Our unemployment rate of 5.3 per cent is more than a full percentage point lower than South Australia’s ten-year average of 6.4 per cent.

“South Australia has created 22,200 jobs since the beginning of the year as our economy breaks free of the impact of COVID-19, providing new career opportunities for young and old alike,” said Minister for Skills and Innovation David Pisoni.

“There are also a record number of job vacancies in South Australia with 21,300 positions vacant and we have the second largest number of South Australians in work on record.

According to the ABS, the number of payroll jobs in South Australia in mid-June 2021 was 5.0 per cent higher than the pre-COVID level in March 2020 – the second strongest result of the states and stronger than the national increase of 3.4 per cent.

“Little wonder that Roy Morgan’s special analysis found that South Australia has “handled the pandemic better than any other state on the employment front”.

“South Australia’s growing prosperity is underpinned by our exceptionally strong performance in handling both the health and economic threats posed by COVID-19.

“The Marshall Government’s strong economic performance is creating jobs, investment and record levels of confidence amongst South Australian consumers and businesses.

“Hours worked in South Australia is very high, driving consumer expenditure and creating additional jobs and opportunities.

“The Marshall Government’s record $17.9 billion infrastructure investment and $4 billion COVID-19 stimulus will continue to create new jobs and opportunities for South Australians, cementing our reputation as the world’s third most liveable city.

“The South Australian Budget is forecasting strong growth in 2021-22 for employment (at 2 per cent) and Gross State Product (at 3.5 per cent).

“The National Australia Bank is forecasting even stronger growth of 4.2 per cent for South Australia’s Gross State Product in 2021-22 – the second strongest of the states and stronger than national growth at 4.0 per cent.”

/Public News. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length.