Payroll jobs decline again as lockdown impacts weigh on data

Payroll jobs fell 0.7 per cent in the two weeks to September 11, following a 1.5 per cent drop in the prior fortnight, the Australian Bureau of Statistics said today.

“The size of the measured payroll jobs decline in lockdown jurisdictions are now of a similar magnitude to the initial lockdowns of 2020,” NAB analysts wrote in a note.

“In many respects though, today’s data is dated given NSW is set for the first stage of reopening on Monday 11, with the ACT and VIC slated to follow in the weeks after.”

Seek job ads in September increased 6 per cent on the prior month, including a 20 per cent jump in NSW, which indicates an imminent recovery for payroll jobs, NAB analysts said.

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