Payroll jobs hammered as lockdowns bite

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The ABS today released Payroll Jobs and Wages data for the fortnight ended 14 August, which revealed that lockdowns are beginning to bite:

Bjorn Jarvis, head of Labour Statistics at the ABS, said: “The largest falls in payroll jobs in the first half of August were in New South Wales (down 1.2 per cent), Queensland (down 1.0 per cent), the Australian Capital Territory (down 0.7 per cent) and Victoria (down 0.6 per cent).

“These four states and territories had lockdowns for either all or part of the first half of August, in addition to existing restrictions and border closures across the country.”

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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.