Posted on: 21 July 2023
South Australia’s unemployment rate has risen once again under Peter Malinauskas, but the jobless rate across the country has fallen in another worrying sign Labor cannot be trusted to manage the state’s economy.
With more than 7,500 fewer South Australians in work - compared to last month - the unemployment rate has risen 0.2 per cent to 4.2 per cent - now the highest rate in the nation.
Meanwhile, the national unemployment rate dropped 0.1 per cent to 3.5 per cent.
The news comes as NAB’s monthly business survey reveals South Australia has the worst business conditions of all the mainland states.
When it comes to business confidence SA also holds the unenviable title of having the worst rating of any state on the mainland.
Business Conditions June 2023 Business Confidence June 2023
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|
change |
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|
change |
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WA |
16 |
-2 |
QLD |
3 |
10 |
|||
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VIC |
15 |
7 |
NSW |
1 |
2 |
|||
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NSW |
8 |
0 |
WA |
0 |
-3 |
|||
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QLD |
6 |
-6 |
VIC |
-4 |
1 |
|||
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SA |
-10 |
-19 |
SA |
-5 |
-5 |
*source NAB Monthly Business Survey June-23
Shadow Treasurer, Matt Cowdrey, said Peter Malinauskas and Labor have no economic plan to futureproof the state during a cost of living crisis.
“We now have more than 7,500 fewer South Australians in work during a cost of living crisis and Peter Malinauskas has no plan to address this shocking reality,” Mr Cowdrey said.
“Peter Malinauskas is yet to set targets for economic growth in South Australia and his penchant for hanging out with social media influencers and celebrities means he’s forgotten about those who are really doing it tough, with no job and no hope for making ends meet.
“Not only do we have the worst unemployment rate, but we also have the lowest business conditions in Australia and falling business confidence which all paints a grim picture.
“The Malinauskas Labor Government inherited some of the best business and economic conditions of an incoming government in the state’s history, but a mere 16 months later they’ve well and truly blown it.”
Shadow Minister for Finance and Tax Reform, Heidi Girolamo, said the troubling news comes off the back of Labor’s disastrous State Budget which was blown by a staggering $1.1 billion.
“Labor’s explosion in government expenditure only adds fuel to the inflation fire, which hurts both households and businesses,” Ms Girolamo said.
“Clearly, South Australian businesses don’t have confidence in Peter Malinauskas and Stephen Mullighan’s ability to manage the economy and are wary of more tough times ahead.
“Peter Malinauskas and his Labor Government must reveal how they plan on turning this all around.”