South Australia’s headline unemployment rate was down 0.5 to 5.7 per cent in August, according to the latest Australian Bureau of Statistics Labour Force data.
Nationally, unemployment is at 5.6 per cent.
The state’s trend unemployment rate decreased 0.2 to 6.1 per cent, while over the past year 14,800 people found work.
There has now been 23 consecutive months of jobs growth, with 23,600 more employed, 13,500 more in full-time work and 13,400 fewer unemployed people over that period
There is a record number of people employed in South Australia, with 827,000 people in work.
The drop in South Australia’s headline unemployment rate follows strong economic figures for the June quarter, with State Final Demand rising 1.7 per cent, the highest in the nation.
There was a surge in spending over the past financial year, with South Australia recording 4 per cent growth.
The strong economic figures follow major investment commitments since the State Budget was announced, including:
- The sale of Arrium to the GFG Alliance to become Liberty OneSteel and Simec Mining
- Solar Reserve’s decision to invest $650 million in solar thermal at Port Augusta, creating 700 jobs
- The $155.6 million Northern Adelaide Irrigation Scheme, creating 3,700 jobs
- Tesla and Neoen investing in a battery co-located with the Hornsdale Wind Farm
- SkyCity go-ahead on a $330 million upgrade of the Adelaide Casino
- OZ Minerals’ board decision to invest more than $900 million in the Carrapateena copper mine
- BHP committing $600 million to increase production at Olympic Dam
Quotes attributable to Employment Minister Kyam Maher
Today’s unemployment figures show that there has now been 23 months of jobs growth, with a record 827,000 people in work.
While I welcome the figures, with the closure of Holden just over one month away, now is not the time for complacency.
The South Australian Government will continue to work to secure investments for our state that create jobs and benefit existing businesses.
While the Liberal Party, Business SA and the Australian Bankers Association are spending their time talking down South Australia, the State Government is working to grow our economy, create jobs and we are getting results.