The Australian Bureau of Statistics (ABS) has released payroll jobs and wages data for the fortnight ended 16 October 2021, which shows that total wages paid have fallen sharply since mid-September:
In the fortnight to 16 October 2021:
Payroll jobs increased by 1.3%, compared to a decrease of 0.5% in the previous fortnight
Total wages paid decreased by 0.9%, compared to a decrease of 3.6% in the previous fortnight
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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.
