Australia: Weekly jobs drop by 7.5%, wages decrease by 8.2%

Dhwani Mehta FXStreet

According to the weekly Australian payroll jobs and wages data, published by the Australian Bureau of Statistics on Tuesday, the total employee jobs decreased by 7.5%.

Meanwhile, the total wages paid by employers decreased by 8.2%.

Additional details

The 7.5% drop points to around 975,000 jobs lost.

Week-to-week changes, the decrease in the number of jobs in the week ending 18 April was 1.5%, which was larger than the 0.3% decrease in the week ending 11 April 2020

The is data was between 14 March and 18 April, the five weeks after Australia recorded its 100th confirmed COVID-19 case.

Market reaction

Despite the terrible Aussie jobs numbers, the sentiment around the AUD/USD pair remains unabated heading into the RBA.

The spot flirts with three-day highs near 0.6450, up 0.32% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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