Local unemployment stable in December

13 January 2011
 

South Australian unemployment remained stable in December 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 December 2010 remained at 5.6 per cent.

Statistics show the national unemployment rate for December decreased 0.2 percentage points to 5.0 per cent.

Nationwide the participation rate decreased 0.2 percentage points to 65.8 per cent, while South Australia’s participation rate decreased 0.1 percentage point to 63.4 per cent.

Business SA Chief Executive Officer, Peter Vaughan, said the data confirmed the pressure applied by the November interest rate rise.

“Despite the national fall in unemployment, South Australia’s unemployment remained stable in December,” Mr Vaughan said.

“The December Christmas trading period is a time when there should be a greater demand for people in the workforce.

“The Reserve Bank’s premature interest rate rise prevented the opportunity for the local business community to build confidence and employ more staff.

“The data follows this week’s retail trade which saw South Australia have the largest fall in trade in November.

“The very restrictive shop trading hours that we saw over the Christmas period also limited further employment opportunities.

“Consumers need the confidence to spend and any further interest rate rises in the near future will continue to impact unemployment levels.”