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

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