South Australia’s trend unemployment rate has risen above 7 per cent for the first time in more than 12 years.
Today’s official figures show that while the more volatile seasonally adjusted rate dipped from 7.3 per cent to 7.2 per cent, the trend rate has risen to 7.1 per cent.
Trend estimates are used by the Australian Bureau of Statistics to analyse the underlying behaviour of a series over time.
It has risen steadily from 5.2 per cent in December 2011; the last time it reached today’s figure of 7.1 was February 2002.
The number of unemployed in SA has now reached almost 62,000, some 18,000 more than December 2011.
On the national front, Australia’s unemployment rate rose to 6.4 per cent in July, official figures show.
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The total number of people with jobs fell 300 to 11.577 million in July, according to seasonally adjusted figures from the Australian Bureau of Statistics released today.
The unemployment rate was expected to remain steady at six per cent in July, with 12,000 jobs added to the economy, according to an AAP survey of 15 economists.
Full-time employment rose 14,500 to 8.077 million in July and part-time employment was down 14,800 to 3.499 million.
The participation rate – those that have a job, are looking for work or are ready to start work – rose to 64.8 per cent, from 64.7 per cent in June.
STATE BY STATE UNEMPLOYMENT RATES IN JULY (seasonally adjusted)
* NSW – 5.9% up from 5.7% in June
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* Vic – 7.0% up from 6.6%
* Qld – 6.8% up from 6.3%
* SA – 7.2% down from 7.3%
* WA – 5.2% up from 5.0%
* Tas – 7.6% up from 7.3%
SA SUMMARY
South Australia’s trend unemployment rate increased slightly to 7.1 per cent in July 2014.
South Australia has the second highest unemployment rate in the nation behind Tasmania (7.5 per cent).
Total employment in South Australia decreased by 0.15 per cent through the year to July 2014.
Full-time employment in South Australia decreased 0.18 per cent through the year to July 2014, while part-time employment decreased 0.1 per cent.
South Australia’s participation rate was 62.5 per cent in July 2014 compared to 64.7 per cent for Australia.
South Australia’s female labour force participation rate is lower than that of Australia
Source: SA Centre for Economic Studies
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