Business
Employment recovery hit speed bump in June, new round of job losses expected – Sydney Morning Herald
The jobs market saw a drop off before Victoria went into a second lockdown and economists warn there could be another spike in unemployment.
“By mid-April, job losses for people under 20 were around 23 per cent, but by the end of June this had reduced to around 5 per cent,” Mr Jarvis said.
Council of Small Business Australia chief executive Peter Strong said the end of financial year could have prompted larger businesses to undertake lay-offs as they formalised plans to recover from the lockdowns. This could be behind the drop off in late-June.
“A lot of bigger businesses might have been putting staff off and paying out their entitlements so the next year’s financial results look better,” Mr Strong said.
Qantas announced on June 25 the airline would cut 6000 jobs, while keeping 15,000 workers stood down, as part of its three-year plan to navigate the coronavirus pandemic.
However, Indeed economist Callam Pickering said the jobs drop off was dominated by healthcare and social assistance, administrative and support services, and transport, postal and warehousing. About 14 per cent of Australian employment is in the healthcare and social assistance category.
“Payrolls for nine of the 19 industry groups
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