Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Australian employment recovering gradually from virus shock

Published 30/06/2020, 11:54 am
Updated 30/06/2020, 12:00 pm

SYDNEY, June 30 (Reuters) - Australian employment is continuing to pick up gradually after the huge losses caused by coronavirus lockdowns, recovering around 30% of the jobs initially shed, data showed on Tuesday.

The Australian Bureau of statistics said total payroll jobs increased 1.0% between mid-May and mid-June, though they were still down 6.4% on their level in mid-March before the lockdowns started to take effect.

"The recovery in payroll jobs between mid-April and mid-June represents around 30% of the jobs initially lost,” said ABS head of labour statistics Bjorn Jarvis.

"Between mid-May and mid-June, the easing of restrictions saw payroll jobs increasing faster for the under 20s, up by 4.1%."

Between the week ended June 6 and the week to June 13, payroll jobs were unchanged, compared to a rise of 0.2% the previous week. Total wages paid rose by 0.2% in the week, after a 0.3% increase the week before.

There had been just over 13 million people counted as employed in early March before the lockdowns, while the jobless rate had been steady at 5.2%. Unemployment rose to 7.1% in May, though that was held down by a sharp rise in the number of people who stopped looking for work.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.