Cyclist wearing mask on tram tracks
Bourke St, Melbourne (Image: AAP/Daniel Pockett)

Regardless of what's happening in Melbourne, the employment market looks set for an extended period of weakness in what is emerging as a much longer, if shallower, recession than hoped for by policymakers.

Yesterday's Australian Bureau of Statistics data on jobs and wages revealed not merely that total payroll jobs at the end of June were still 5.7% below mid-March levels, but that they fell in the last week of June when the removal of lockdown restrictions was supposed to reopen the economy.

And while Victoria saw a substantial fall in jobs that week -- 1.3% -- it wasn’t the biggest fall. Every state and territory except Tasmania contracted, including NSW -0.3% and Western Australia -3%.