There’s more bad economic news out today from the Australia Bureau of Statistics; more bad economic news that not only again shows how Victoria has become the lead in the nation’s saddlebags, but the depth of the disaster facing the state.
Payroll jobs fell 0.9 per cent across the fortnight to 3 October, with all states and territories reporting a decline. Nationally, the Bureau reports, payroll jobs remain 4.1 per cent lower than mid-March; 7.7 per cent lower in Victoria and 2.8 per cent lower in the rest of Australia.
Just to make it crystal clear, the release comes complete with a graph that starkly illustrates the impact of the Andrews Government’s mismanagement of the coronavirus pandemic.
Today’s data follows the release of the ABS’s latest Labour Force Status of Families series last Friday.
It bought the happy news there were 157,000 more jobless families in June 2020 than in June 2019, an 11.5 per cent increase in families without an employed person in them over the 12 month period.
The Bureau attributed the decline to COVID-19, adding it was larger than the annual increases seen in earlier economic downturns in 1992 — 9.0 per cent — and 1982 — 9.9 per cent.
Around 21.2 per cent of all families were jobless families in June 2020, up from 19.3 per cent in June 2019. This, of course, was before Victoria’s draconian Level 4 lockdown restrictions were put in place.
The ABS qualified the data, stating not all jobless families were searching for work, as they included retired couples and parents out of the workforce while caring for infants.
However, it went on to say the extent of job losses during the COVID-19 period resulted in a larger annual increase in the number of jobless families with dependants (17.0 per cent).
“Couple families with children under 15 account for around two-thirds of all families with dependents (65.4 per cent), and their rate of joblessness rose from 3.6 per cent in June 2019 to 5.3 per cent in June 2020.”
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