Slipping into recession in 2020 – Standard Chartered
Forex News

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

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.

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