Deloitte Access Economics' quarterly business outlook for South Australia has predicted that the state’s contribution to national GDP will shrink, and that the fallout from Holden’s demise has been exaggerated.
The ABC reports that Deloitte stated the end of Holden's manufacturing operations in Australia was a disaster on a personal level for those losing jobs, though it was not so for the workforce of 800,000 people.
"The number of jobs directly lost in South Australia as a result of Holden ending its local manufacturing operations is likely to be less than 2,000 people," said the report, according to the ABC.
Holden will cease manufacturing in Australia in 2017. Modelling by University of Adelaide predicted up to 24,000 job losses from the flow-through effects of the demise of Ford, Toyota and Holden in 2016 and 2017.
A report by Barry Burgan John Spoehr from Torrens University estimated that up to 15,000 jobs could be lost in the state (compared to 2011 employment numbers) through the Holden closure.
Deloitte’s outlook stated that currency and interest rate declines were more significant for employment than the Holden closure.