Small business payroll jobs fail to launch

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The ABS has released its Weekly Payroll Jobs and Wages in Australia data for the week ending 22 May 2021, which reported that payroll jobs are now tracking 2.6% above their pre-Covid level, whereas total wages are tracking 3.1% higher:

Payroll jobs and wages

Rebound from COVID.

The next table shows the breakdown across jurisdictions, which shows all states & territories reporting increases in jobs and wages versus pre-COVID levels:

State payroll jobs and wages

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.