Business
Victoria jobs losses gain momentum – The Australian Financial Review
Victoria has lost more jobs and losing them faster than any other state in the country as the COVID-19 lockdown bruises its economy and forces businesses to cut staff.
The official data showed a 0.6 per cent slide in jobs across the country in the week to July 11 and a 1.9 per cent cut in the overall wage bill.
UBS analysts said the data should not be interpreted as a downward trend.
“We are cautious not to over-interpret this latest data as a change in the trend (a turning point downwards), because of very large upward revisions to history,” UBS’s George Tharenou and Carlos Cacho said.
“Specifically, compared with the initial print, June 13 has been revise…
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