ADELAIDE, AAP – Unemployment in South Australia has fallen to a 12-year low, putting it on the verge of “effective full employment” for the first time in a generation, the state government says.
SA’s jobless rate in July came in at 4.7 per cent, just slightly higher than the national figure of 4.6 per cent, and down significantly from 5.4 per cent in June.
About 10,700 jobs were created last month, lifting total jobs growth to 32,800 since the start of the year.
“South Australia leads the nation for jobs growth and now has more people in jobs than ever before,” Innovation and Skills Minister David Pisoni said.
“South Australia is now on the verge of effective full employment for the first time in a generation.
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“This is great news for South Australians thinking of buying a house, opening a business or looking to get a loan from the bank.”
Mr Pisoni said in July SA had a record number of people in full-time work, a record number of hours worked, and more people employed than ever before.
“South Australia’s growing prosperity is underpinned by our exceptionally strong performance in handling both the health and economic threats posed by COVID-19,” he said.
Property Council Executive Director Daniel Gannon said the state’s strong position was “a far cry from where we thought we’d be early last year”.
“When the pandemic hit in 2020, there were predictions of double-digit unemployment and a share market in freefall,” he said.
“Fast forward 12 months and South Australia’s jobless rate starts with a four rather than a 10 which is an unexpected and enviable position for our state.”