SA economy resilient, says minister

South Australia’s economy is showing great resilience with employment levels growing, the state government says.

Employment Minister Tom Kenyon said the state’s jobless rate in March was steady at 5.2 per cent, the same as the national level.

The March figures also showed 1200 more South Australians had jobs last month compared to the same month last year.

The minister said 128,900 new jobs had been created since the state Labor government came to office in 2002, including 13,700 since the March 2010 election.

“Today’s figures continue to demonstrate that we’re showing great resilience in the current global economic climate,” Mr Kenyon said.

“South Australians can continue to remain confident about the future.”

The South Australian opposition said the latest jobless figures showed one in four young people were out of work.

Employment spokesman David Pisoni said the state’s youth jobless rate was 26.9 per cent, above the national average.

“It is clear that this Labor government has abandoned young job seekers in SA,” Mr Pisoni said.

“With the highest taxes and the worst business confidence in the nation, businesses in South Australia simply cannot afford to create jobs or increase hours for their existing workforce.”

Business SA chief executive Peter Vaughan said the pressure on jobs would continue.

“While the unemployment data reflects some stability, there is a significant amount of pressure on businesses throughout the state,” Mr Vaughan said.

“Low consumer sentiment and rising costs for business are translating to pressure on employment levels across many industry sectors.”

Mr Vaughan said it was time for the Reserve Bank to step in and cut official interest rates.

“Economic data, combined with predictions of rising unemployment, indicates that further interest rate relief is required to build momentum throughout the economy,” he said.

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