South Australia's government recently created 19000 jobs, and the unemployment rate in South Australia reached 5.4 percent, the lowest level since 2012. At the beginning of this year, South Australia's unemployment rate even exceeded 6%, once 6.3%, making it Australia's highest unemployment state.
The "ups and downs" of unemployment
Unemployment was also rising in South Australia in early 2018, with the closure of last year's Elizabeth (Elizabeth) plant at Horton (Holden). In February, Australia's national unemployment rate was 5.6 percent, compared with 6.3 percent in South Australia. But in March, unemployment in South Australia fell to 5.6 percent in an instant, when the national unemployment rate was 5.5 percent, 0.1 percent lower than South Australia. On a seasonally adjusted basis, Australian workers rose by 4900 in March, full-time employment fell by 19900, and part-time employment rose by 28800.
South Australia's unemployment rate continued to fluctuate after the closure of the Horton plant, rising to 5.9% in April. In the following two months, the unemployment rate in South Australia continued to decline, to 5.6% in May. And fell to 5.4% in June, the lowest level since November 2012 (5.3%). South Australia's unemployment rate was finally at the same level as the national average, but the rest of the country was also quite strong, and South Australia still had room to rise.
The national job market is also "vibrant"
Across the country, Australia's trending employment grew by 26900 in June, up from the average monthly rate of growth over the past 20 years. Unemployment has fallen by 1200, the national unemployment rate has fallen to 5.4 percent, and the labour force participation rate has stabilized at 65.5 percent. Among them, the personal service industry and construction-related industries grew rapidly, with one hundred and thirty three thousand six hundred and ninety nine jobs added in the construction industry, one hundred and ninety three thousand new jobs in the medical and health sector, and 76,500 new jobs in the hotel industry.
In terms of age, the 15-to 64-year-old labor force participation rate is 78.1 percent, partly controlling the impact of ageing of population on Australia's job market.
Over the past year, young Australians' jobs have actually been "weak", with jobs falling by 2500, or about 2 percent. But the good news is that a large proportion of the workforce is now over the age of 55, and young people will get more jobs when they pull out of the labour market in the future.
South Australia is short of talent.
South Australia's government has also recently shown concern that, despite a three-month decline in unemployment, there are still plenty of vacancies and it is difficult to find the right people to fill the vacancies.
The number of skilled immigrants in South Australia fell 23 percent from 10701 to 8238 between "2014-2015" and "2016-2017," according to the Home Office. The number of family visas also fell from 2785 to 2683.
Anthony (Anthony Penney), executive director of the (Business SA) Employment and government division of the South Australian Business Agency, said that while "potential immigrants" across Australia were growing, population pressures in the eastern states were also rising. But the situation in South Australia is very different, with extremely slow population growth. South Australia's population grew by just 10, 000 in the previous fiscal year, but Victoria grew by 10, 000 every 26 days, and Queensland's population tripled, according to Steven Marshall (Steven Marshall), governor of South Australia. South Australia's economy has been hit by a severe shortage of skilled workers.
South Australia's employees are getting older, especially in some regions, Mr. Penny said. It is difficult to find the right people to fill these vacancies, and Australia's list of skilled immigrants is based on the national level, but there is a discrepancy between the needs at the national level and the local needs of South Australia, and in some cases, Even the minimum wage for skilled migrants should be lowered.
In May, the Interior Ministry confirmed that it was reviewing new visa conditions and policies to enable migrants to help communities in remote villages. After that, Australia's regional research institute, (Regional Australia Institute), also said it should declare some of South Australia's remote villages a priority to ease the "contraction" of local agricultural communities. The institute has also proposed a "pairing" scheme to channel more overseas talent to employers in remote areas, which it says will reach 3000 immigrants a year.
Visa tightening "boosts" unemployment rate down
As early as the first half of last year, Australia's government tightened standards for temporary immigration visas as the labour market continued to weaken. At the time, Prime Minister Malcolm Turnbull (Malcolm Turnbull) said the immigration system should ensure that Australians occupy Australia's jobs as much as possible, rather than letting employers hire more foreigners. Last month, Liberal congressman Dean Smith (Dean Smith) also said Australia needed 13 million new jobs in the second half of the century to accommodate population growth and that immigration levels should be further curbed. In order to ensure the quality of life of their citizens. Australia's population grew by 1.63%, Asia's 0.9%, North America's 0.73%, and Europe's 0.08%, compared with 1/20 in Australia. And in the future, with the rapid development of robotics, artificial intelligence and automation technology, these new technologies may have a devastating impact on Australia's job market in the next 50 years.
Former Prime Minister Tony Abbott (Tony Abbot) has also pressed the government to reduce the number of immigrants admitted every year to half the current level of 80,000 until infrastructure can catch up. Interior Secretary Peter Duton (Peter Dutton) has also proposed a reduction in the annual immigration ceiling from one hundred and ninety thousand to one hundred and seventy thousand. But the above proposals were rejected and opposed.
Senator Smith said Australia should not reduce the total number of immigrants, but should limit the number of migrants to cities under pressure on infrastructure. New immigrants should be encouraged to move to other parts of Australia, where infrastructure pressures are low.
The Australian dollar is still "confused"
The (Reserve Bank of Australia), the Reserve Bank of Australia, said a stronger economy would gradually push unemployment down and inflation higher, so there was no reason to take short-term policy action. There is also a view that the strong labour market indicates that Australia's economy is improving since then, but the Fed will not raise interest rates in the first half of next year until unemployment falls to 5.0 percent and wage growth increases significantly. As the Reserve Bank of Australia continues to focus on unemployment and wage growth, employment data could cause more volatility in the Australian dollar, and the Australian dollar will be more sensitive to the risks of deterioration in the job market, and future money markets remain elusive.
epilogue
Under the current policy conditions, the overall trend of unemployment in Australia is declining, but it is still likely to fluctuate in the short term. Unemployment information for July 2018 will be released on August 16, with the release of new news. The direction of Australia's economy will be clearer in the future.
But South Australia's demographic pressure will continue to haunt South Australia's government for a long time, and with Australia's overall economic strength, the ever-moving South Australian population is likely to put even more pressure on the already sluggish South Australian talent market.