Confidence in SA economy growing but more work to be done

South Australians are showing increasing confidence in the economy, with more people looking for work last month, as the trend unemployment rate remained steady in more encouraging news for the state’s economy.

 

“While it’s pleasing to see growth in local employment and the number of South Australians looking for a job, the slight increase in the seasonally adjusted unemployment rate shows there is much more work required to further strengthen our economy,” said Minister for Industry and Skills David Pisoni.

The latest ABS Labour Force figures for last month show a seasonally adjusted unemployment rate of 5.7 per cent in July, up from 5.4 per cent in June, with SA having the third lowest seasonally adjusted unemployment rate in the nation.

The trend unemployment rate remains steady at 5.6 per cent.

“The State Government welcomes the increase in overall employment and the vote of confidence in the SA economy demonstrated by the fact there are more people looking for work.

“We are lowering costs by scrapping payroll tax for all small businesses from 1 January 2019, which will be a boost to the SA economy and drive further jobs growth.

“The State Government is also easing cost of living pressures for businesses and households by delivering ESL savings of $90 million per year, and putting the case strongly for capping council rate increases.

“We have also joined with the Federal Government to invest more than $200 million into creating an additional 20,000 apprenticeships and traineeships over the next four years.

“South Australian businesses are also well placed to capitalise on the jobs boom coming as a result of the $90 billion naval shipbuilding program.”


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