Westpac with the note:
Weekly Payroll jobs estimates fell 0.5% between May 8 and April 24. Total wages paid by employers fell by 1.3%. The fortnightly increase of the previous release of payrolls (for the fortnight ending April 24), was revised down to +0.2% from +0.4%.
For the third fortnight in a row, the ABS has cautioned that seasonal factors associated with the school holidays may still be influencing payrolls. This continues to make it difficult to obtain a clear read on the impact of the ending of JobKeeper. However, despite these distortions, this is a softer start to employment growth in May than implied by other indicators.
