South Australia’s economic rebound from COVID-19 continues to gather momentum, with latest ABS data showing the state has retained its nation-leading status for total jobs growth since the depths of the pandemic.
The state has outperformed every other state and territory, except Western Australia, for the total value of employee wages paid since the COVID low point (April 18, 2020) – rising 9.8%, compared to 7.8% nationally.
Total employee jobs in SA increased by a nation-leading 11.3% in the 10 months since April 18 – above the national average of 9%, according to the ABS Labour Force: Single Touch Payroll data released this week.
Treasurer Rob Lucas welcomed the figures as another positive sign of a rebounding local economy – with business conditions and confidence also high in recent independent surveys.
“While monthly Labour Force data is a useful guide, it can be several weeks delayed in terms of a measure of jobs growth in the economy, which is why this fortnightly series provides another key indicator of how the state is tracking,” said Mr Lucas.
“It’s pleasing to see South Australia continues to perform relatively well in relation to our strong ongoing economic and jobs recovery from COVID-19, but we know there’s much more work to be done,” he said.
“That’s why we’ve committed $4 billion in economic stimulus to turbo-charge the state’s economy and grow local jobs over the next 2 years.
“More than a quarter of a billion dollars in cash grants has been paid to small businesses and not-for-profits across SA to help them survive and trade through the COVID-19, supporting businesses who employ more than 104,000 jobs according to Treasury analysis.
“Whilst the Commonwealth’s JobKeeper scheme concludes on March 31, the State Government is continuing to support businesses with payroll tax relief for the next 3 months. Our support includes a 15-month waiver of payroll tax up until July this year for businesses with grouped annual wages under $4 million.
“Businesses with grouped annual wages over $4 million who were eligible for the extended Commonwealth JobKeeper payment from 4 January 2021 will receive a six-month waiver up until July this year providing further financial support for them.”
Master Builders Association of SA analysis of the ABS data shows SA is the only state or territory to have more construction industry jobs now than before the pandemic, in February 2020 (up 0.9%).
