Fall in local unemployment provides good news

7 April 2011

South Australian unemployment decreased in March according to the State’s leading business membership organisation, Business SA.

The Australian Bureau of Statistics Labour Force figures show the seasonally adjusted unemployment rate for South Australia in March 2011 decreased 0.4 percentage points from the previous month’s figure to 5.4 per cent.

Statistics show the national unemployment rate for March decreased 0.1 percentage point to 4.9 per cent.

Nationwide the participation rate increased 0.1 percentage point to 65.8 per cent, while South Australia’s participation rate increased 0.2 percentage points to 63.7 per cent.

Business SA Chief Executive Officer, Peter Vaughan, said the data provided positive news for local businesses.

“It is good news for the local economy that South Australia’s unemployment followed the national trend and decreased in March,” Mr Vaughan said.

“The increased economic activity generated throughout March in South Australia saw a demand for more people in the workforce and no doubt provided an important contribution to the growth in employment.

“While the data is heading in the right direction, the decrease in unemployment was to the same extent as last month’s increase and we remain at the level of this time last year.

“Recent economic indicators, including retail trade, have signalled the pressure that remains on the South Australia’s economy and our unemployment is still well above the national average.

“Further interest rate rises, unrealistic wage increases and rising business costs all have the potential to add further pressure on employment levels.

“A boost in consumer and business confidence is required to build momentum and continue this decrease in unemployment.”