Australia is in danger of marking its first three-quarters of economic contraction since the 1982 recession as Victoria's virus lockdown threatens to last beyond its six-week schedule, stalling the national jobs and spending recovery despite a surge in government stimulus payments.
In the week to July 11, 1.4 per cent of Victorian jobs were cut, according to tax office payroll figures released on Tuesday, driving a 0.6 per cent national fall and reversing some of the gains from May to the end of June as the economy started to reopen.