CommSec’s State of the States economic report released today shows South Australia in joint third position, our highest ranking in over a decade – further evidence of SA’s strong recovery from the COVID-19 pandemic.
The state government has welcomed the report which shows SA’s improving position in terms of dwelling commencements, equipment investment, unemployment, construction work and housing finance.
CommSec notes South Australia’s population growth in the year to the June quarter was the second strongest on relative population growth, up 11.9 per cent on the decade average.
In line with recent measures of SA’s strong jobs market, the report puts South Australia in second spot in terms of unemployment, after the ACT, with our 6.4 per cent unemployment rate just 1 per cent above the decade average.
Treasurer Rob Lucas welcomed the report which outlined further positive signs that the South Australian economy will emerge strongly from the COVID-19 global pandemic.
“This report comes hot on the heels of recent strong jobs data from the ABS and the Deloitte Access Economics Business Outlook report which showed that South Australia has weathered the COVID storm remarkably well to date,” Mr Lucas said.
“Clearly there is positive momentum and sentiment here in South Australia due to our state’s handling of the health response to the global pandemic as well as our economic response, which has been a joint effort by the South Australian community at large, along with businesses and governments.
“We know there is much more to be done to ensure our ongoing economic recovery continues in 2021, and that’s why the Government is doing everything in its power to save as many jobs and businesses as possible during this challenging time, investing a record $4 billion in economic stimulus – including an extension of $10,000 cash grants for small businesses and not-for-profits, and significant payroll tax relief and land tax relief.”
Sourced from the Premier of South Australia’s website: Decade high ranking for South Australian economy