Western Australia's jobless rate has improved by a modest amount, with 19,000 more people in mostly full-time work, while national figures worsened to their highest level in 22 years.
Wage increases have shrunk to their lowest level in over two decades and economists fear the worst is yet to come as the coronavirus fuels unemployment.
Retail sales in Australia fell by 3.4 per cent in the June quarter amid coronavirus lockdowns, which is the biggest drop since the GST was introduced in 2000.
Retail sales in Australia rose a solid 2.4 per cent in June, as people flocked to reopened cafes and restaurants and spent more on clothing in the first full month of trade since the lockdowns ended.
Retail trade rebounded a record 16.3 per cent in May, following a 17.7 per cent plunge in April, amid a gradual easing of coronavirus-related restrictions during the month.
The number of Western Australians looking for jobs surpassed 100,000 in May, as the state posted the highest unemployment rate in the nation, while a further 67,600 left the labour force.
Western Australia's internal economy grew 0.9 per cent in the March quarter even as Australia as a whole contracted 0.3 per cent, but those numbers mostly predate the economic impact of the COVID-19 lockdowns.
The Australian minerals sector has experienced a 20 per cent drop in exploration spending over the March quarter, with industry groups calling for more government support.
The Reserve Bank of Australia has kept the cash rate at a record low 0.25 per cent at its monthly board meeting as it assesses the extent of the coronavirus-driven economic downturn.
Turnover for clothing retailers and cafes Australia-wide was halved in April 2020 compared to the same month in 2019, with Deloitte warning employment in some sectors may not recover for five to six years.
Western Australia has lost about 80,000 jobs due to the COVID-19 pandemic, proportionally lower than any region other than the Northern Territory; while Bunbury, the Wheatbelt and inner Perth were the hardest hit parts of the state.
The number of Australians in employment have fallen by 594,300 people in April, with Western Australia recording 62,300 fewer people in full- or part-time work following coronavirus-related lockdowns.
Consumer confidence received a much needed boost from last Friday's three-step plan from the national cabinet to lift coronavirus-related restrictions in the months ahead.
Retail spending in Western Australia increased by 9.9 per cent in March as consumers stockpiled food, home and office supplies, resulting in some retailers, including JB Hi-Fi, posting a strong quarter.
The Reserve Bank of Australia has chosen to keep interest rates unchanged today at 0.25 per cent, despite news of over 1 million job losses nationwide and a 48.5 per cent drop in car sales.
About one in five Western Australians in the hospitality and recreation sectors lost their jobs in a three-week period, new Australian Bureau of Statistics data suggests, while the RBA has flagged an economic recovery could begin in the September quarter with GDP growth accelerating to 7 per cent next year.
Australia could experience a sustained recession into the second half of 2020, new research from Bank of America predicts, while the latest data from the Australian Bureau of Statistics offers little insight into the impact of shutdowns on unemployment in Western Australia.
The Australian Bureau of Statistics (ABS) today released its ‘Characteristics of New Residential Dwellings' report, detailing building costs and floorspace movement over the past 15 years nationall
Retail spending increased more sharply than expected in February thanks to a surge in spending on basic necessities in supermarkets and department stores.
Home loans in Western Australia have reduced in value by 6.4 per cent in January, while the national figure increased by its fastest rate since mid-2019.
An increase in retail spending, a growing population and improved housing finance figures suggest positive times ahead for Western Australia's economy, according to CommSec chief economist Craig James.
Western Australia's unemployment rate has risen to 5.8 per cent in January, sitting above the national average, despite the state recording 6,700 more people in employment for the month.
Property investors believe Perth has the strongest potential for growth of any capital city in Australia during the next three years, according to a new national survey.
New housing finance data is painting a positive picture for Western Australia's residential property sector, with both the value and the number of loans increasing in the last three months of 2019.
National retail spending fell by a worse-than-expected 0.5 per cent in a fire-affected December, however, retail giant Coles recorded a surprisingly strong Christmas period.
Subiaco's fortunes are on an upswing after years plagued by high retail vacancies, high-profile hospitality closures and an uncertain future with the exit of AFL football to the Burswood Peninsula.
Perth's embattled CBD retail market is undergoing a bottom-up revival, with strong enquiry from prospective food-and-beverage operators despite a number high-profile chain stores closing their doors.
