Local unemployment figures rise slightly

Submitted 16/02/2009

Migration for Business Growth

The Australian Bureau of Statistics Labour Force figures show the seasonally adjusted unemployment rate for South Australia in January 2009 was 5.6 per cent, 0.2 per cent higher than the previous months's adjusted figures.

Statistics show the national unemployment rate increased to 4.8 per cent from December's rate of 4.5 per cent.

Nationwide participation rates increased 0.1 to 65.1 per cent, while South Australia's participation rate increased by 0.3 per cent to 63.1 per cent.

Business SA Chief Executive Officer, Peter Vaughan, said that while the figures reflected an expected increase in unemployment, the economy was remaining resilient.

"Business confidence has dropped due to the effects of the financial instability sweeping the economy, however things could be a lot worse," Mr Vaughan said.

"With the economic downturn hitting consumer demand, recent interest rate cuts and stimulus plans will provide a boost to the economy."

"It is now vitally important to implement the Government's stimulus package which will provide some much needed relief for businesses and families."

"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 change in employment."

"Unemployment is expected to increase in the March quarter according to 85 per cent of survey respondents."