One in five jobs across parts of western Sydney has disappeared since the lockdowns started and across Australia, payrolls fell by 0.7 per cent in the fortnight to August 14, which will have GST ramifications for SA and Tassie.
The Australian Bureau of Statistics said NSW bore the brunt of the impact, with the number of people on payrolls falling by 1.2 per cent and by 5 per cent since the middle of July.
The thing to remember is that even though you might still be on a ‘payroll’, you’re not being paid. You’re treading water, waiting for the lockdown to finish. This is especially true of casuals.
Keep in mind – and if this story wasn’t depressing enough – the true unemployment figures are understated by about 7 per cent, due to the antique ABS methodology, survey non-responders and radical changes in the structure of the workforce, which were happening before Covid and the GFC.
The worst hit areas have been across Sydney’s southern and western suburbs. The largest drop has been in Fairfield with a 17.7 per cent fall, while there were other large drops in areas such as Canterbury (17 per cent), Bankstown (15.6 per cent), Auburn (14.8 per cent) and Hurstville (14.5 per cent).
Across the rest of the country, payroll numbers dropped by 0.7 per cent in the ACT to be 1.3 per cent down since mid-July, they fell by 1 per cent in Queensland and by 0.5 per cent in Tasmania. But SA held its own with payroll rising by 1.5 per cent coming off the back of a 4 per cent drop the month before.
In the in the second half of July, the payroll were largest in the arts and recreation services and accommodation and food services industries (down 5.9 per cent and 5.8 per cent).
Economists and their astrologists say next week’s jobs figures, will show 300,000 jobs lost through August, due to the lockdowns and the knock-on effects across the nation.