SA cost of living crisis worsens as unemployment rate jumps to highest in the country

SA cost of living crisis worsens as unemployment rate jumps to highest in the country

Posted on: 16 May 2024

South Australians will take another hit to the hip pocket during the cost of living crisis with government fees and charges for the next financial year set to rise.

The latest blow to household and business budgets comes as South Australia’s unemployment rate jumps to the highest in the country – up 0.3 points to 4.2 per cent.

Concerningly, both South Australia’s underemployment rate and participation rates were also the second worst in the country.

The Malinauskas Labor Government today confirmed South Australians will be slugged an extra 3 per cent for everyday fees and charges such as licence renewals and car registration.

The typical South Australian family is already more than $20,000 a year worse off under the Malinauskas Labor Government and businesses continue to suffer with the sky-rocketing cost of doing business.

Shadow Treasurer, Matt Cowdrey, said it was a double whammy of bad news for South Australia today.

“We know South Australian families and businesses are doing it incredibly tough at the moment and today’s news is yet another blow,” Mr Cowdrey said.

“The typical South Australian family is having to fork out an extra $400 a week under Peter Malinauskas and the new increase in fees and charges will just increase the pain.

“The increases come despite the Malinauskas Labor Government raking in record tax revenue over the past two years.

“Before the election Peter Malinauskas said there would be ‘no new taxes’ and ‘no tax increases’ but jacking up government fees and charges is simply a tax increase in disguise.”

Shadow Minister for Finance and Tax Reform, Heidi Girolamo, said today’s latest ABS job statistics were concerning for South Australia.

“South Australia has claimed the unwanted title of having the highest level of unemployment in the nation,” Ms Girolamo said.

“In another sign of trouble, South Australia also has the second worst participation rate in the country which means not only do we have fewer people in work, but we have fewer people searching for work.

“The data clearly shows Mad March delivers a sugar hit for South Australia but Peter Malinauskas needs to outline his economic plan for our state beyond events.”

The Opposition’s calculations for a typical family are based on a family of four including two children aged eight and 12 who attend a public school. Parents work full-time and earn an average weekly salary, sharing the cost of a mortgage of $500,000.

The family has private health insurance, two cars, RAA memberships, streaming services, internet, and three mobile devices. They also have summer and winter sports club memberships and travel domestically once a year.