The Australian Bureau of Statistics issued their weekly payrolls data
Via WPAC, some of the pertinent points:
- suggest we have passed the low point for employment
- in May, average Payrolls were flat compared to the average for April Iin April payrolls fell -7.7% & employment fell -4.5%
- There were further promising signs that the labour market continued to stabilise through May.
- May 2 to May 30 Weekly Payrolls are up 1%.
WPAC conclude:
- we are cautious before reading too much into the data but the improvement through the last four weeks is very promising.
