South Australia Government To Provide Funds To Reduce Unemployment

Recent survey by Australian Bureau of Statistics Labour Force showed that South Australia (SA) has the highest unemployment rate in 15 years. Presently, it remains at 8.2 percent after an increase of 0.6 percent in the month of May. However, nationally 25,000 full-time jobs were added which made the unemployment steady at 6 percent.

An investment of AU$ 20.15 million has been decided to be made in order to increase business production in SA, which would eventually generate employment. Adelaide Crows chairman and former banking executive Rob Chapman would be appointed as the chairman of the fund.

On being interviewed by ABC, Mr. Chapman expressed his delight and said that it was an “exciting” and a very “responsible initiative.” He promised to leave no stone unturned in order to recover the state from unemployment and adopt efficient approaches to promote state business. However, he also warned that situation might worsen due to the undergoing transformation of the economy.

Mr. Chapman has set plans to promote SA as a place that would attract international investors. It would be promoted in such a way that it would attract both international and national businesses, which would eventually ensure job sustainability and proper capital allocation.

Last week South Australian Premier Jay Weatherill described the situation to be utterly disappointing. He confirmed that state government was trying its best to create jobs and bring about economic prosperity. However, he also mentioned about the large number of jobs created over the last few months in SA that remained widely unappreciated.

With the announcements of ban on investment in renewable energy, creating jobs would become very difficult, reported Treasurer Tom Koutsantonis. He warned that this directive threatened the existence of jobs and projects. He further issued a statement saying that it was becoming, “more and more apparent that we are standing on our own, whether it is cars, submarines, GST, we are more and more on our own,” reported ABC.

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