South Australia on par with Victoria with nations highest unemployment rate

South Australian Business News  •  Economy  •  National
Darcy Matthews
Thursday, May 16th 2024
Unemployment

Nationwide unemployment rose by 0.2 percentage points to 4.1% in April on a seasonally adjusted basis.

South Australian unemployment rose by 0.3 percentage points to 4.2% and is on par with Victoria for the nation’s highest unemployment rate.

Two months ago in February, South Australia had the lowest unemployment rate of any state or territory. Underemployment also rose by 0.2 percentage points in South Australia in April.

This comes after wage growth data was released on Wednesday that saw the wage price index rise 0.8% in the March quarter of 2024 and 4.1% in the year.

This annual increase is 0.1 percentage points lower than the last quarter which was a fifteen-year high. The ABS noted that private sector wages grew faster than public sector wages by 0.3 percentage points in the March quarter.

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