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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ups and downs of online auctions, the power of activist short-sellers, and tax time 2021.

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Steve Waters, director of Right Property Group, chats about online auctions and why they resemble “a bad Zoom meeting”, the growing resilience of the property market, and how Sydney’s lengthy lockdown could shake things up.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into short selling – the original trade that sent GameStop stock soaring – and how activist short-sellers are impacting markets.

And lastly, tax and super guru Timothy Munro talks about those early tax lodgers and possible ramifications, as well as detailing the temporary shortcut method, which you may be able to use this tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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3 in 4 Aussies back to work

By Cameron Micallef

December 16 2020
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3 in 4 Aussies back to work

By Cameron Micallef
December 16 2020

Australia’s recovery from the COVID-19 downturn continues, with the latest job figures showing Aussies are getting back to work.

3 in 4 Aussies back to work

By Cameron Micallef

December 16 2020
Share

Australia’s recovery from the COVID-19 downturn continues, with the latest job figures showing Aussies are getting back to work.

The ABS’ latest payroll jobs data showed a 0.4 per cent increase across the fortnight to 28 November.

Bjorn Jarvis, head of labour statistics at the ABS, explained that a majority of Australians who lost their jobs at the start of the pandemic are back at work.

“More than three-quarters of payroll jobs lost to mid-April had been regained by the end of November; however, they remained 2.0 per cent lower than mid-March.”

The stats also showed that women are outpacing men in terms of recovery.

Since 14 March 2020, payroll jobs worked by males have decreased by 3.8 per cent, while those worked by females dropped 2.2 per cent.

In terms of total wages, the statistics showed that payments to males have decreased by 4.9 per cent, while payments to females have fallen just 0.1 per cent.

However, that is not to say that the recovery from the pandemic has been even, with certain industries more impacted than others.

“Nationally, payroll jobs rose in both the accommodation and food services (1.2 per cent) and arts and recreation services (0.4 per cent) industries across the fortnight to 28 November,” Mr Jarvis said.

“In South Australia, payroll jobs in these industries fell over the period, by 4.0 per cent and 7.0 per cent, which also coincided with the brief reintroduction of additional COVID-19 restrictions.

Union members get paid more

Separate data also released by the ABS showed that members of a trade union are paid 31.8 per cent more than non-union members, despite dwindling union numbers.

The data revealed that employees who were trade union members in their main job had median weekly earnings of $1,450 in August, compared with $1,100 for non-union workers.

Trade union membership has generally declined since 1992. From 1992 to 2020, the proportion of employees who were trade union members has fallen from 40 per cent to 14 per cent.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

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