Earn
Payroll back ‘around pre-COVID levels’
Australian payroll data is nearing pre-COVID levels as employees return to work post-lockdowns, official stats have revealed.

Payroll back ‘around pre-COVID levels’
Australian payroll data is nearing pre-COVID levels as employees return to work post-lockdowns, official stats have revealed.

Australian Bureau of Statistics (ABS) figures showed that payroll jobs rose 1.3 per cent across the fortnight to 30 January 2021, with almost every industry in the economy benefiting.
The largest increases were seen in administrative and support services, which were up 2.7 per cent, while accommodation and food services, and education and training both grew by 2.6 per cent over the fortnight.
“Payroll jobs continued to follow a seasonal pattern, increasing through January, and were around the same level as last year,” Bjorn Jarvis, head of labour statistics at the ABS, said.
However, annual jobs growth varied across the nation, with the strongest rise in payroll positions in the Northern Territory, up 3.5 per cent, but Tasmania and Victoria were both down 1.7 per cent.
The Reserve Bank, in the minutes of its 2 February board meeting also released on Tuesday, said the peak in the unemployment rate had “probably already occurred”.
“In Australia, the economic recovery was well under way and had been stronger than expected previously,” the minutes said.
“Notwithstanding a swift rebound in the participation rate, the firmer outlook for employment had resulted in a lower than expected unemployment rate profile across the forecast period.”
The RBA confirmed that even with the removal of the JobKeeper program, which will create uncertainty in the near term, the unemployment rate is expected to continue to fall over the second half of the year.
“In the baseline scenario, the unemployment rate was expected to decline to around 6 per cent by the end of 2021, before reaching around 5¼ per cent by mid 2023.”
The minutes again confirmed the cash rate would remain at 0.10 per cent for “as long as necessary” and possibly until 2024.
The Morrison government described it as an “extraordinary achievement in the Australian economy”, in the Parliament on Tuesday.
“I want to thank all of those businesses that kept Australians in work,” he said.
About the author

About the author


Salary
Employers scrambling to prevent workplace brain drain
As workplace managers face a swiftly evolving employment market that’s increasingly favouring the demands of white-collar employees and jobseekers, bosses are falling under mounting pressure to pres...Read more

Salary
Unions back Albanese’s pledge to close gender pay gap
An electoral promise from Labor to make gender pay equity an objective of the Fair Work Act has been hailed as a “watershed moment” from industry peak bodies who have traditionally advocated for s...Read more

Salary
Coles asked to disprove $115m in alleged wage theft
One of Australia’s biggest supermarkets faces allegations that it underpaid more than 7,500 employees a total of $115 million. ...Read more

Salary
Gen Z left behind in progress to gender equality
Women under 25 may emerge from the pandemic in a worse financial position than when it began, new research has shown. ...Read more

Salary
Show me the money: I deserve a COVID recognition payment, and so do you
Staff are currently in high demand. But they’re also mostly overworked, overtired, underplayed and underpaid. ...Read more

Salary
Is Australia headed for the ‘Great Resignation’?
A wave of resignations from Australian workers is expected in the next six months. ...Read more

Salary
Earnings surge in lockdown, but is a slump ahead?
A new report from CBA has shown that it may actually pay to be in lockdown, as growth in household income surged ahead in NSW and Victoria. ...Read more

Salary
RBA sets sights on 4% unemployment
The RBA has updated its key objectives in order to jolt the Australian economy into growth, including a two-decade low unemployment rate of 4 per cent. ...Read more

Wrapping up an eventful 2021
Listen now

What Omicron means for property, and are units right for first-time buyers? What is equity crowdfunding? Are industry super funds tapping into member funds to save their skins?
Listen now

Will housing affordability improve in 2022? Will buy now, pay later become the norm? Why are Aussies staying in failing super products?
Listen now

Who really benefits from crypto ETFs? How will the RBA respond to rising inflation? Could a mandate help address unpaid super?
Listen now

Salary
Employers scrambling to prevent workplace brain drain
As workplace managers face a swiftly evolving employment market that’s increasingly favouring the demands of white-collar employees and jobseekers, bosses are falling under mounting pressure to pres...Read more

Salary
Unions back Albanese’s pledge to close gender pay gap
An electoral promise from Labor to make gender pay equity an objective of the Fair Work Act has been hailed as a “watershed moment” from industry peak bodies who have traditionally advocated for s...Read more

Salary
Coles asked to disprove $115m in alleged wage theft
One of Australia’s biggest supermarkets faces allegations that it underpaid more than 7,500 employees a total of $115 million. ...Read more

Salary
Gen Z left behind in progress to gender equality
Women under 25 may emerge from the pandemic in a worse financial position than when it began, new research has shown. ...Read more

Salary
Show me the money: I deserve a COVID recognition payment, and so do you
Staff are currently in high demand. But they’re also mostly overworked, overtired, underplayed and underpaid. ...Read more

Salary
Is Australia headed for the ‘Great Resignation’?
A wave of resignations from Australian workers is expected in the next six months. ...Read more

Salary
Earnings surge in lockdown, but is a slump ahead?
A new report from CBA has shown that it may actually pay to be in lockdown, as growth in household income surged ahead in NSW and Victoria. ...Read more

Salary
RBA sets sights on 4% unemployment
The RBA has updated its key objectives in order to jolt the Australian economy into growth, including a two-decade low unemployment rate of 4 per cent. ...Read more