Deloitte: Dark times loom for Australia’s labor market

Extract from Deloitte’s weekly economic briefing:

New payroll data indicates that the Australian labor market has fallen from its perch again, after an impressive recovery in the first half of the year.

Released late last week, ABS data revealed that the total number of salaried jobs fell 3.5% between the week ending June 19, before the start of Sydney’s latest lockdown, and August 14. Sadly, these payroll figures are a harbinger of what to expect on Thursday, when monthly ABS labor market data for August is officially released. So far in the pandemic, they have formed a reliable indicator.

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