24 October 2008

South Australia economy expanding amidst global meltdown

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According to a leading economic consultancy, South Australia's economy is accelerating while the rest of the country is slowing down, reports ABC News.

Access Economics confirmed the September quarter business outlook for South Australia is promising, and is picking up speed rather than following the global economic trend and showing signs of recession.

The report from Access Economics says the biggest indicators in South Australia are the car sales and retail spending, which prove that consumer confidence in the State is still going strong.  They also suggest the State's lower rate of household debt and cheaper house prices are making consumers less susceptible to higher interest rates and are giving residents greater spending power. 

The report also predicts the State's farms will produce good profits this year, but that the overall output is growing at a slower rate than the rest of the country.

South Australia's population growth is currently sitting at 1 per cent, which, according to the State Government, is not enough to meet the needs of the local labour market.  As a result, Immigration South Australia is working hard to attract more skilled workers and temporary workers to the State to fill the labour shortages and help the economy to retain its growth. 

Recently, Immigration South Australia amended its job shortage list to reflect the current workforce shortages in the state.

The new immigration list has 10 new jobs added, while 40 jobs that were previously on the list have been removed.  Immigration South Australia revised the List of Occupations for Provisional Visa sponsorship so that it better reflects the needs of the South Australian economy.

Migrants to Australia can apply for a visa for Australia under the Sponsored Work visas scheme, which allows businesses or the government to sponsor overseas workers to live and work in the country in order to fill a vacancy listed on the job shortage list.

The Australian Visa Bureau is an independent consulting company specialising in helping people with their Australian visa application.

Article by Jessica Bird, Australian Visa Bureau.

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