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Record decline in purchasing power for SA households
South Australian households have experienced an unprecedented decline in their purchasing power over the past year. In our latest Economic Briefing Report, SACES estimates that households’ gross disposable incomes on a real per capita basis fell by around 7 per cent in 2022/23. Consequently, households are finding it increasingly difficult to sustain their spending levels. This situation will continue to suppress household spending in 2024, which will lead to a slowdown in South Australia’s economic growth next year.
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Demography not policy may dictate which SA job sectors grow
A new report from the SA Centre for Economic Studies suggests that South Australia’s healthcare sector may experience the biggest growth in employment in the state, in the near future. The demand for people in this sector will create problems for others sectors such as defence that will be competing for scarce skilled labour.
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SA household spending loses momentum as cost-of-living weighs heavy
Aggregate spending in South Australia has lost momentum over the past year as cost of living issues have weighed on household spending. Nonetheless, the State has enjoyed an especially strong recovery from the pandemic, and many areas of the economy are now operating at very high levels of capacity. These conclusions are contained in the latest Economic Briefing Report from the SA Centre for Economic Studies.
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