SA unemployment rate nation’s highest despite jobs surge

South Australia’s unemployment rate has dropped slightly to 4.1 per cent but is the nation’s highest despite adding another 25,000 jobs in the month to November.

Dec 15, 2022, updated Dec 15, 2022
Photo: Tony Lewis/InDaily

Photo: Tony Lewis/InDaily

Australian Bureau of Statistics data released today shows South Australia’s seasonally-adjusted unemployment rate for November was 4.1 per cent – down from 4.2 per cent in October.

The state’s unemployment rate is now the highest in the nation, behind Victoria on 3.7 per cent and Tasmania and Western Australia on 3.5 per cent.

The national unemployment rate remained unchanged at 3.4 per cent.

The number of people employed in South Australia increased from 895,600 in October to 920,300 in November.

In seasonally adjusted terms, the state’s participation rate, which measures the percentage of people either in work or looking for it, dropped 0.2 points to 63.4 per cent.

The national participation rate jumped 0.2 points to 66.8 per cent – returning to a record-high level observed in June this year, according to the ABS.

Underemployment in South Australia, which measures part-time workers who want more hours and full-time workers who did not work full-time hours, increased 0.3 points to 6.8 per cent.

Strong demand for labour throughout the pandemic recovery has kept the national jobless rate in the mid-threes since June.

“With increases in both employment (up 64,000 people) and unemployment (up 7000 people), the unemployment rate remained steady at 3.4 per cent, while the participation rate increased to 66.8 per cent,” said Bjorn Jarvis, head of labour statistics at the ABS.

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Although job vacancies and ads have come off their elevated peaks, another low jobless read was expected given the enduring heat in the jobs market.

But a weakening in the jobless rate is expected as economic conditions worsen.

-With AAP

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