Victoria Still Weighing On Jobs, Per ABS

The ABS note that "payroll jobs across Australia fell by 0.4% over the month to 22 August. Payroll jobs fell by 2.0% in Victoria while for the rest of Australia, payroll jobs rose 0.1%. While payroll jobs continued to fall in Victoria into the third week of August, it was at a slower rate than earlier in the month. Nationally, payroll jobs at 22 August were 4.2% below mid-March, when Australia recorded its 100th confirmed COVID-19 case. Payroll jobs in Victoria were 7.9% below the level reported in mid-March, compared with 2.9% for the rest of Australia. Across Australia, payroll jobs in the Accommodation and food services and the Arts and recreation services industries have suffered the largest losses during the COVID-19 period. While Accommodation and food services and Arts and recreation services have recovered close to half (40% and 49%) of payroll jobs lost since the low point in mid-April, they remain 21% and 14% lower than mid-March. These industries remain particularly hard hit in Victoria, where payroll jobs were 38% and 23% respectively below mid-March. In mid-March, the four industries with the largest share of payroll jobs (41%) were Health care and social assistance; Retail trade; Professional, scientific & technical services; and Education & training. By 22 August, these industries were back to over 96% of the payroll jobs recorded in mid-March. Between the week ending 14 March 2020 (the week Australia recorded its 100th confirmed COVID-19 case) and the week ending 22 August 2020 total wages decreased by 5.2%."