Traditionally the labour market has been a lagging indicator of activity. However, in this pandemic it is largely contemporaneous and is thus a good summary indicator of the wider economy as well as being timely given new data sets such as weekly payrolls and regular job ad updates by SEEK and Indeed.
Many of the smaller states’ economies are benefiting from both better virus numbers along with relatively smaller exposures to business services.
The Weekly looks at how the various Australian states have been performing.
This week, we thought it might be interesting to discuss the most common questions we are getting asked by businesses and investors on the outlook for the Australian economy.