The ABS has released its weekly Payroll Jobs and Wages data, which reveals that total payroll jobs fell by 7.3% in the seven weeks from mid-March to early May, with Victoria leading the decline (-8.4%):
The next chart shows that jobs (-7.3%) have fallen more sharply than wages (-5.4%):
Wages have fallen most sharply in WA (-7.0%) followed by VIC (-6.7%):
Young Aussies have been most impacted by job losses, but have faired better on income:
As expected, Accommodation & food services and Arts & recreation have been most impacted by job losses:
Overall, another sombre report.
- Weekend Reading 11-12 July 2020 - July 11, 2020
- Westpac: Looming downside risks for US economy - July 10, 2020
- Victorian Treasurer unveils $6b emergency stimulus package - July 10, 2020
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