From Deloitte’s Weekly Economics Briefing:
New payroll data indicates that Australia’s labour market has once again fallen from its perch, after an impressive recovery during the first half of the year.
Released late last week, the ABS data revealed that total payroll jobs fell 3.5% between the week ending 19 June, before Sydney’s latest lockdown kicked off, and 14 August. Unfortunately, these payroll numbers are an early sign of what to expect on Thursday, when ABS monthly labour market data for August will be officially released. Thus far in the pandemic, they’ve formed a reliable indicator.
