South Australia continues to lead the nation for its strong jobs rebound since the depths of the COVID-19 pandemic, while local business conditions have surged to near record highs.
And SA continues to outperform every other state and territory, except Western Australia, for the total value of employee wages paid since the COVID low point (April 18, 2020) – rising 11.3 per cent, compared to 9 per cent nationally.
Total employee jobs in SA increased by a nation-leading 12.5 per cent in the almost 12 months since April 18 last year – above the national average of 10.2 per cent, according to the ABS Labour Force: Single Touch Payroll data.
And, in a further shot in the arm for the state’s ongoing economic and jobs growth, SA business conditions have surged to near record levels (in seasonally adjusted terms), according to the latest independent NAB Monthly Business Survey (for March) – in the same month the federal JobKeeper scheme came to an end.
Business conditions, which cover business activity including trading, profitability and employment, have rocketed a massive 24 points, more than any other mainland state, to reach a national high 32 points – higher than the national level of 25, and higher than pre-pandemic levels.
“South Australia continues to punch well above its weight when it comes to our ongoing strong economic and jobs rebound from COVID-19, with key indicators such as new home sales, housing finance, retail spending, online job ads and business conditions all recording a significant uplift,” said Treasurer Rob Lucas.
“It’s pleasing to see South Australia continues to outperform all other states and territories for total employee jobs growth – while business conditions here are now at near record levels and even higher than what they were before the pandemic.
“While we welcome this positive sentiment, we know there’s much more work to be done which is why we are investing a record $4 billion in stimulus to turbo charge our economy over the next two years.”
It comes as national online job ads for March hit a 12-year high – with SA recording the second strongest job ads growth of 133.3 per cent, or an increase of 7,200 job ads, compared to a year ago*.
*March 2021 Internet Vacancy Index, released by the federal Department of Education, Skills and Employment (seasonally adjusted data).