Labour Force Figures

The Hon. D.G.E. HOOD (15:48): My question is again to the Treasurer: can the Treasurer update the chamber on the most recent labour force figures for South Australia?

The Hon. R.I. LUCAS (Treasurer) (15:49): Since the parliament last convened we have the valuable information provided by two sets of employment figures, the labour force figures and the Single Touch Payroll—

Members interjecting:

The Hon. R.I. LUCAS: —which members wait for with bated breath every fortnight, Mr President.

Members interjecting:

The PRESIDENT: Order!

The Hon. R.I. LUCAS: I know that the opposition, even occasionally, likes to hear good news about the state's economy.

Members interjecting:

The PRESIDENT: I would like to hear the news, whatever it is, but I am having trouble with that at the moment.

Members interjecting:

The PRESIDENT: Order! The opposition frontbench will come to order.

The Hon. E.S. Bourke interjecting:

The PRESIDENT: The Hon. Ms Bourke, order!

The Hon. R.I. LUCAS: Whatever she is saying. Let me first refer to the labour force figures, which, as we know, fluctuate wildly and widely in terms of their monthly figures. I think, as I have recounted to the house on a number of occasions, we had the best unemployment figures in November/December. Within three months we were the worst, and then we have oscillated from worst to in the middle of the pack.

In the last oscillation, the last fluctuation for the July unemployment figures, we saw a very significant reduction in the state's unemployment rate measured by the labour force, from 5.3 per cent down to 4.7 per cent, and a national unemployment rate of 4.6 per cent, so a very significant reduction in the state's unemployment rate. I am sure even the pessimists—

The Hon. I.K. Hunter interjecting:

The PRESIDENT: The Hon. Mr Hunter!

The Hon. I.K. Hunter interjecting:

The PRESIDENT: Order, the Hon. Mr Hunter!

The Hon. R.I. LUCAS: —on the opposition bench will be delighted at hearing the labour force figures, particularly when one looks at just five years ago, when that unemployment rate was 6.3 per cent, so a very significant reduction during the term of this particular government.

As I have often recounted to the house, the Single Touch Payroll figures do have some inherent advantages, and I am pleased to be able to report that—

Members interjecting:

The PRESIDENT: I am not sure the Treasurer is being helped by the conversation by his ministerial colleagues.

The Hon. R.I. LUCAS: They have heard these figures, Mr President, but let me recount them to the other members. I recount them every cabinet meeting to them, so they are well familiar with these figures. The most recent figures for the latest fortnight indicate that when compared to the absolute low of the pandemic last year in April, there has been a 14.5 per cent growth in South Australia's employment or Single Touch Payroll (STP) jobs, the second highest of all the states and territories in the nation.

Only Western Australia is marginally ahead at 14.7 per cent, so a very significant growth. In New South Wales, understandably, given their problems, the growth rate in jobs is just 8.5 per cent. The national figure is at 11.3 per cent. South Australia's job growth rate, measured by the Single Touch Payroll at 14.5 per cent, is again some cause for optimism for even the pessimists sitting on the opposition benches.