Slight fall in local unemployment figures

Submitted 4/02/2009

Migration for Business Growth

 

South Australian unemployment decreased slightly in December.

The Australian Bureau of Statistics Labour Force figures showed the seasonally adjusted unemployment rate for South Australia in December 2008 was 5.3 per cent, 0.1 per cent lower than the previous month's adjusted figures.

Statistics showed the national unemployment rate increased to 4.5 per cent from November's rate of 4.4 per cent.

Nationwide participation rates decreased 0.1 to 65 per cent, while South Australia's participation rate decreased by 0.7 per cent to 62.9 per cent.

Business SA Chief Executive Officer, Peter Vaughan, said that the figures reflected the decrease in business confidence.

"Labour demand is traditionally high during the Christmas trading period, however the effects of the economic slowdown are evident," Mr Vaughan said.

"Loal unemployment levels saw a small decrease in December, mainly due to a fall in labour participation. Businesses are in a holding pattern in terms of increasing workforce numbers and the expectation is that things will get worse before it gets better."

"With increasing competition from interstate businesses, now is the perfect time to upskill existing workers and create a competitive advantage into the future."

"According to the Commonwealth Bank Business SA Survey of Business Expectations, employment levels were steady in the December quarter, with more than 60 per cent of respondents indicating no changes in employment. Unemployment is expected to increase in the March quarter according to 85 per cent of survey respondents."