Jobs growth on the rise as business confidence soars
CONFIDENCE in the South Australian economy is leading to “real outcomes”, with the number of businesses creating jobs in the past three months now at its highest level since 2010, according to a BankSA survey released today.
Overall business confidence remained steady at an eightyear high of 119 index points, the BankSA State Monitor survey found.
The survey, conducted by independent research firm The Sexton Marketing Group and released to The Advertiser, found a sharp rise in the number of businesses which have created additional employment in the past three months.
The number of businesses that intend to create more jobs over the next three months has jumped to the highest level since 2007.
“Business confidence re- sults showed that increased confidence in the South Australian economy was now leading to real outcomes,” BankSA chief executive Nick Reade said. “This year has marked a turnaround for South Australian businesses.
“Since dropping to a fouryear low in August 2017, business confidence has steadily grown.
“Importantly, this confidence is now translating to investment and growth with businesses starting to employ more workers.”
Mr Reade said the results would be welcome news for jobseekers in the lead-up to Christmas.
The survey’s findings were consistent with figures released by the Australian Bureau of Statistics in October, showing that SA’s unemployment rate had fallen to 5.5 per cent – the third lowest in the country behind NSW and Victoria.
The September quarter Business SA/William Buck Survey of Business Expectations, released last week, also showed SA businesses were more confident about the future than their interstate counterparts for the first time in more than five years.
It comes a month after the Sunday Mail’s Your Say SA survey revealed growing optimism about SA as a good place to do business. Adelaide re- habilitation services business ProActiv People Solutions – a state winner in the Telstra Business Awards – recently won a five-year contract with the Federal Government to deliver disability employment services across Adelaide.
“We have opened seven new offices since July across metropolitan Adelaide employing eight staff, and are looking to employ a further seven people within the next 24 months,” co-founder Nives Matkovic said.
“We see disability employment services and (its application to) NDIS as perfect partners in our growth plans.”
The BankSA survey found consumer confidence dipped slightly from the four-year high posted in the July survey – down 3.1 index points to 106.3.
Importantly though, consumer confidence remained above the 100-point baseline, as it has done for all three BankSA State Monitor surveys in 2018. That was a positive turnaround after hitting a 20year low of 96.3 in November last year.
The business confidence index score for rural SA was down 8 points to 107.9 as a result of challenging drought conditions. However, overall consumer confidence in the regions rose 7.3 points to 109.9.
Other key findings in the latest BankSA survey included: THE state’s manufacturing sector reported its highest confidence level since 2004 CONSUMERS aged were the most confident MALE consumers were more confident than female consumers for the sixth consecutive survey, and; WHITE-COLLAR workers were more confident than blue-collar workers for the eighth consecutive survey. PAGE 55: BUSINESS DAILY 18-24