separate territory. According to Australian maps, South Australia's south coast is flanked by the Southern Ocean, but official international consensus defines the Southern Ocean as extending north from the pole only to 60°S or 55°S, at least 17 degrees of latitude further south than the most southern point of South Australia. Thus the south coast is officially adjacent to the south-most portion of the Indian Ocean. See Southern Ocean: Existence and definitions. Climate The southern part of the state has a Mediterranean climate, while the rest of the state has either an arid or semi-arid climate. South Australia's main temperature range is in January and in July. The highest maximum temperature ever recorded was at Oodnadatta on 2 January 1960, which is the highest official temperature recorded in Australia. The lowest minimum temperature was at Yongala on 20 July 1976. The region's overall dry weather is owed to the Australian High on the Great Australian Bight. Economy As of 2016, South Australia had 746,105 people employed out of a total workforce of 806,593, giving an unemployment rate of 7.5%. South Australia's largest employment sector is health care and social assistance, making up 14.8% of the state's total employment, followed by retail (10.7%), education and training (8.6%), manufacturing (8%), and construction (7.6%). South Australia's economy relies on exports more than any other state in Australia. South Australia's credit rating was upgraded to AAA by Standard & Poor's in September 2004 and to AAA by Moody's in November 2004, the highest credit ratings achievable by any company or sovereign. The state had previously lost these ratings in the State Bank collapse. However, in 2012 Standard & Poor's downgraded the state's credit rating to AA+ due to declining revenues, new spending initiatives and a weaker than expected budgetary outlook. South Australia receives the least amount of federal funding for its local road network of all states on a per capita and a per kilometre basis. During 2019-20: South Australia's gross state product (GSP) fell 1.4% in chain volume (real) terms (nationally, gross domestic product (GDP) fell 0.3%). South Australia came out of the COVID-19 recession better than the other Australian states, with the economy growing by 3.9% in the 2020–21 financial year. This was the first time since the Australian Bureau of Statistics began collecting data in 1990 that South Australia had outperformed the other states. The recovery was driven in part by