SA Economy

[Jaymz]

I wouldn't crow too much. After gaining a possible 60 positions with Oz Minerals we now have BHP announcing a cut of 300 jobs at Olympic Dam. This is the resources industry. It's boom and bust.

Cheers

South Australia was never part of the mining boom in the last 10 years, no matter how much Mike Rann used to throw that term about. Some moderate growth would be a more realistic description. Our mining industry is still only a tiny fraction of Western Australia's.

[rev]

300 jobs is not at big loss, in Western Australia there's a lot more then 300 jobs being lost as a result
of the Iron ore price crashing.

While OZ minerals are not that big at the moment there is the potential for expansion. The state government can
see the potential growth involved with OZ minerals and accordingly lured the head office here to Adelaide.

Not a big loss? Tell that to the 300 people who are jobless.
What is it insensitive prick month on S-A?

[jk1237]

ok the headline isn't great, but just read the stat about SA, have we seen a stat like that here is 40 years?

from http://www.urbanalyst.com/in-the-news/a ... -2014.html

Residential approvals fall slightly in December 2014
February 7, 2015
Written by Urbanalyst


FOLLOWING an upwardly revised gain of 7.7 per cent in November, the number of new dwellings approved in December 2014 decreased by 3.3 per cent, in seasonally adjusted terms, according to the latest figures released this week by the Australian Bureau of Statistics (ABS).

A total of 17,753 dwellings were approved in December, compared to seasonally adjusted totals of 18,358 in November and 17,048 in October. When compared to the same month in 2013, the number of dwellings approved in December 2014 was up by 8.8 per cent, in seasonally adjusted terms.

Dwelling approvals increased for the month of December in New South Wales (up 26.9 per cent to a total of 5,157 dwellings), South Australia (up 26.8 per cent to 1,012), Queensland (1.7 per cent to 3,310) and Western Australia (1.1 per cent to 2,787), in seasonally adjusted terms.

In Victoria, a total of 4,872 dwellings were approved in December (a decrease of 26.3 per cent compared to November) and in Tasmania, a total of 231 dwellings were approved (a decrease of 8.4 per cent).

In seasonally adjusted terms, 9,314 private sector houses were approved in December, compared to 9,313 in November. A total of 7,985 private sector dwellings excluding houses were approved in December, which was a decrease of 9.4 per cent compared to November's result of 8,847.

The seasonally adjusted estimate of the value of total building approved fell 14.7 per cent in December after rising for two months. The value of residential building fell 10.9 per cent after rising for two months. The value of non-residential building fell 22.7 per cent following a rise of 29.1 per cent in the previous month.

Peter Jones, Chief Economist of Master Builders Australia, said the ABS results for December 2014 reveal that there was a total of 200,814 approvals in 2014. He said the results indicate a looming residential building boom in 2015 and challenge preconceptions that the approvals growth cycle has peaked.

"The slight fall back in approvals for December 2014 of 3.3 per cent seasonally adjusted came after the spikes seen in October and November 2014 of 11.9 and 7.7 per cent seasonally adjusted and strongly positive trend growth," Mr Jones said.

"The historic high is being driven by the boom in apartment building in Sydney and Melbourne that shows no immediate sign of abating.

"Builder confidence will be boosted by the strengthening pipeline of work that will drive much needed job creation and investment in both the industry and the wider economy.

"The boom in approvals will eventually flow through to increased housing supply and work to help ease affordability pressures.

"However, urgent reforms to remove the shackles of poor land release strategies, inefficient developer charges/ infrastructure levies as well as poor planning and development programs are needed if the housing upturn is to gain further traction," Mr Jones concluded.

More information is available from the Australian Bureau of Statistics website at <http://www.abs.gov.au/>.

[Norman]

Hmm this is not good. Unemployment in seasonally adjusted terms has increased dramatically to 8.2, with the trend going up to 7.8.

[[Shuz]]

Hmm this is not good. Unemployment in seasonally adjusted terms has increased dramatically to 8.2, with the trend going up to 7.8.

Source?

[Norman]

Hmm this is not good. Unemployment in seasonally adjusted terms has increased dramatically to 8.2, with the trend going up to 7.8.

Source?

http://www.ausstats.abs.gov.au/ausstats ... 202015.pdf

[crawf]

That is absolutely appalling.

Urgent action is needed ASAP!.

[Ben]

almost 2% points above Tasmania. What is going on. Holden hasn't even closed yet...

[Waewick]

urgent action was required years ago.

According to Wetherill SA wants a big governmnet economy, so I'm waiting for him to deliver the goodies.

[phenom]

These are horrible figures, no doubt about it.

Worth seeing some context though.

SA has been disproportionately hit with decisions by the Federal Government - it might be a hundred here and a hundred there but it adds up (eg ABC cuts were massively centred on losses in Adelaide). Our core industries have been massively undermined and in the case of automotive, shrinking by the month.

For those who argue we are mendicants, well, the same can be said for other cities. Compulsory superannuation is basically a regulation that favours the Sydney/Melbourne finance sector. Government spending and activities in general favours Canberra. Tasmania gets lots more Federal dollars per head of population than SA. The NT (Darwin really) is powered almost entirely by government dollars plus a couple of large gas projects. WA's unemployment is increasing (fast) and I would expect it to continue surging as mining cuts take their toll.

It's also worth noting that small states rates swing massively given the survey sizes now for labour force data at the ABS.

That said, yes, it's not good at all.

[crawf]

Impossible question to answer, but when can we see things turning around?.

It's time SA seriously considers nuclear to create thousands of new jobs and overhaul the economy.

[Waewick]

Our woes are our own making. The sooner we face up to that the better

[[Shuz]]

Where the hell is the jobs package that Government should be delivering on? One way to go forward is to invest literally billions of dollars in infrastructure.

Northern Connector, Gawler Electrification, Tram Extensions, Nuclear Energy... are just a few kickstarters. That will provide stimulus for thousands of jobs.

Yes, it means more debt, but at least it is productivity debt.

[Jaymz]

While infrastructure spending is nice, it only really creates temporary jobs and gets us further into debt. A slippery slope to misery
if other industries are not created or allowed to die in the mean time i.e less people employed and therefore less tax revenue to pay the debt.
A healthy private sector is the key to a strong economy.

2 sayings come to mind:

1. You cannot spend your way out of a recession (not that we're there quite yet, but must be very close)
2. Governments don't create jobs, businesses do.

[Waewick]

Where the hell is the jobs package that Government should be delivering on? One way to go forward is to invest literally billions of dollars in infrastructure.

Northern Connector, Gawler Electrification, Tram Extensions, Nuclear Energy... are just a few kickstarters. That will provide stimulus for thousands of jobs.

Yes, it means more debt, but at least it is productivity debt.

We get what we deserve (to paraphrase Hinkley) we again fell for spin and puff and voted back in a bunch of incompetents (yes, Liberal could have been more so).

If it wasn't for the fact I'm stuck here and its plainly obvious my kids will never work here, I am trying to do something, not sure what that is.