South Australia’s unemployment rate has dropped to a record low with more people in work than ever before.

Labour Force data released by the Australian Bureau of Statistics for February shows an unprecedented 936,000 South Australians are now employed, 4,400 more than in the previous month.

Pleasingly, 614,200 are working full-time, another state record.

South Australia’s unemployment rate has fallen to 3.8 per cent, the lowest it’s been since monthly records began.

The participation rate is 63.8 per cent – SA’s equal fifth highest on record. There are now almost 28,000 more South Australians in work than at the time of the state election in March 2022. Almost 16,000 of these are full time.

It’s more encouraging news on the jobs front, on the back of this week’s AUKUS submarines announcement which will create thousands of jobs not just at Osborne but across SA.

Nationally, the unemployment rate sits at 3.5 per cent. SA’s unemployment rate is now equal with Queensland and lower than the Northern Territory and Western Australia.

Quotes

Attributable to Stephen Mullighan

There has never been a better time to find a job in South Australia.

The South Australian economy continues to boom, with record low unemployment, record high levels of jobs, and a historically high participation rate all suggesting significant economic strength for South Australia.

While the national economy is expected to slow this year, these results show that South Australia is in a strong position to confront any economic challenges that may arise.