South Australia’s ability to keep outbreaks at bay has allowed the state’s recovery to go from “strength to strength”, according to the latest Deloitte Access Economics Business Outlook.
Deloitte points to the state’s soaring housing construction sector, net positive migration over the past year, and strong employment growth as other promising signs for SA.
The report also states that South Australia received its highest number of new arrivals since 2003, unemployment well down on historic averages, while total hours worked are higher than at any point since 2016.
Treasurer Rob Lucas welcomed the report’s findings, which follow recent ANZ/Property Council research showing South Australia as the only jurisdiction to enjoy a rise in business confidence.
“While there are more South Australians in full time employment than ever before, it’s important that we keep the momentum going, and the collective efforts of South Australians in keeping our state safe are also aiding SA’s strong economic recovery from the global COVID-19 pandemic,” Mr Lucas said.
“It’s encouraging to see South Australia experience the second largest relative growth in employment, behind only Western Australia – which is on the back of recent strong payrolls jobs data from the ABS, which saw SA jobs up 15.4 per cent from the low point of the pandemic.
“The Marshall Government has a strong focus on the space, defence, hi-tech, and energy and mining sectors, so it’s very pleasing to see Deloitte acknowledge that by prioritising and supporting these emerging industry sectors, we are bringing highly skilled jobs to South Australia.
“We’re also continuing our significant public investments, with our $17.9 billion pipeline of infrastructure projects over four years, delivering the roads, schools and health facilities that South Australians deserve, while also creating jobs.
“The Government agrees with Deloitte’s assessment that while challenges remain, South Australia’s outlook is as positive as it’s been for quite some time, with businesses looking to invest and highly skilled jobs coming to the state.”