South Australia’s unemployment rate rises to 5.8 per cent

SOUTH Australia’s unemployment rate has risen slightly, but economists warn it’s the first in a series of speed bumps ahead of tomorrow’s Holden closure.

• Employment rate down to 5.7 per cent

SOUTH Australia’s unemployment rate has risen slightly to 5.8 per cent on seasonally adjusted figures.

The .1 per cent rise for September is only marginal but tomorrow’s closure of Holden’s Elizabeth plant is expected to bring further spikes.

It comes on the back of a .5 per cent drop the previous month — which took the state to the lowest rate it had been at since 2012.

The slight rise, according to Australian Bureau of Statistics figures released today, comes as the national unemployment rate eased by .1 per cent, dropping to 5.5 per cent.

SA’s unemployment rate dropped slightly in the more reliable trend terms, decreasing 0.2 per cent to 5.8 per cent.

SA had long had the highest or equal highest trend unemployment rate in the nation, but is now below Victoria (6 per cent), Queensland and Tasmania (both 5.9 per cent).

Employment Minister Kyam Maher welcomed the figures but said the state “cannot be complacent” given the Holden closure.

“The Labor Government will continue to stand up for all South Australians to secure

investments for our state that create jobs and benefit business,” Mr Maher said.

“These latest figures show what can be achieved when Government and business work together.”