South Australia Unemployment Rate Down To 5.4 % For October 2018

South Australia Unemployment Rate Down To 5.4 % For October 2018

South Australia Minister for Industry and Skills David Pisoni

More South Australia Jobs In October ABS Figures

Victor P Taffa

State Government is encouraged by the latest ABS jobs figures indicating a decline in South Australia’s unemployment rate in October.

ABS Labour Force stats released today show improvement in South Australia’s seasonally adjusted unemployment rate dropping to 5.4 %. The trend unemployment rate remained steady at 5.5 %, which is a 6-year low.

Full-time employment rose by 500 compared to the previous month, in trend terms, and total employment in trend terms rose by 12,400 over the year to October. More than half were full-time jobs.

Minister for Industry and Skills David Pisoni said these were encouraging figures for South Australia as the Marshall Government pushes through its policy agenda to create more jobs.

“Number of hours worked in October compared to the same month last year, increased by 1.9 Million, which equates to $70 Million in the local economy, assuming the average hourly-rate per hour worked.” Minister Pisoni said.

“These figures point to a South Australian economy that is steadily growing, as business and consumer confidence is revitalised by the Marshall Government.”

Latest jobs figures follow the recent BankSA State Monitor survey results which show business confidence steady at an 8-year high with more jobs expected to be created.

Minister Pisoni said there has been a significant turnaround for South Australian businesses since the Marshall Government was elected in March, with business confidence steadily improving.

“Election of the Marshall Government has delivered a sharp increase in business confidence in South Australia, which is vital for ongoing jobs and economic growth.” Minister Pisoni said.

“This turnaround is also being driven by a $100 Million State Government investment to create 20,800 apprenticeships and traineeships over 4 years, with a further $103 Million from the Federal Government under the Skilling Australians Fund National Partnership Agreement.”

 

Abbreviations:

ABS                Australian Bureau of Statistics