The Australian Bureau of Statistics' (ABS) payroll data revealed that since 14 March - the 100th case of COVID-19 - 29% of all jobs lost were 'secondary' jobs.

As defined by the ABS, secondary jobs are other jobs worked concurrently by multiple job holders.

On the week ending 14 March, 5.6% of all jobs were counted as secondary, while in the week ending 30 May that figure was just 3.7%.

In the March quarter, prior to the pandemic taking off, ABS data showed 6% of employed people worked multiple jobs. 

The number of secondary jobs fell 38.8% between 14 March and 30 May, while the number of 'main' jobs fell 5.6%. Total payroll jobs in that period fell 7.5%, but increased 1% through May.  

The ABS put the loss in jobs down to JobKeeper only covering one job, with payments having started flowing from early May.

"JobKeeper can only cover a single job for an eligible employee, with main jobs likely to be supported to a greater extent than secondary jobs," the report said.

Need somewhere to store cash and earn interest? The table below features introductory savings accounts with some of the highest interest rates on the market.

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BankSavings AccountBase Interest Rate Max Interest Rate Total Interest Earned Introductory Term Minimum Amount Maximum Amount Minimum Monthly Deposit Minimum Opening Deposit ATM Access Joint Application TagsFeaturesLinkComparePromoted ProductDisclosure
0.00% p.a.
Bonus rate of 5.50%
Rate varies on savings amount.
5.50% p.a.
$556
–
$0
$99,999
$0
$0
  • Set up your Pay Cycle and connect your accounts from over 140 financial institutions.
  • Retrace your spending steps into categories with Spending Footprint.
  • Start tapping straightaway with Apple Pay, Google Pay™, Samsung Pay, and Garmin Pay.
  • No monthly or international fees on any of your transactions.
 Disclosure
5.00% p.a.
5.50% p.a.
Intro rate for 4 months
then 5.00% p.a.
$536
4 months
$0
$249,999
$0
$0
  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace
 Disclosure
4.70% p.a.
5.40% p.a.
Intro rate for 4 months
then 4.70% p.a.
$519
4 months
$250,000
$99,999,999
$0
$0
  • Special offer: Savings Accelerator (Kick Starter offer).
  • For a limited time, new ING customers can get a bonus 0.70% p.a. on their savings rate on balances of $150,000 up to $500,000 for the first 4 months. T&Cs apply.
  • If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 4.7%
 Disclosure
1.45% p.a.
Bonus rate of 3.90%
Rate varies on savings amount.
5.35% p.a.
$541
–
$0
$249,999
$200
$0
  • Increase your balance by $200 each month to earn the maximum interest
  • No account keeping fees
  • No minimum balance
  • Interest paid monthly
 Disclosure
0.55% p.a.
Bonus rate of 4.95%
Rate varies on savings amount.
5.50% p.a.
$556
–
$0
$99,999
$1,000
$0
  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month
 Disclosure
0.55% p.a.
Bonus rate of 4.70%
Rate varies on savings amount.
5.25% p.a.
$531
–
$0
$99,999
$2,000
$0
0.10% p.a.
Bonus rate of 5.40%
Rate varies on savings amount.
5.50% p.a.
$556
–
$0
$49,999
$200
$1
0.05% p.a.
Bonus rate of 5.30%
Rate varies on savings amount.
5.35% p.a.
$541
–
$0
$249,999
$1,000
$$formattedMinOpeningDep.format("%,d",$!{product.minimumOpeningDeposit})
0.10% p.a.
Bonus rate of 5.00%
Rate varies on savings amount.
5.10% p.a.
$515
–
$0
$99,999
$100
$1
0.01% p.a.
Bonus rate of 5.24%
Rate varies on savings amount.
5.25% p.a.
$531
–
$0
$99,999
$100
$0
0.10% p.a.
Bonus rate of 5.00%
Rate varies on savings amount.
5.10% p.a.
$515
–
$0
$49,999
$10
$0
4.85% p.a.
5.35% p.a.
$490
–
$0
$99,999,999
$0
$0
More savings accounts
  • Increase your balance by $200 each month to earn the maximum interest
  • No account keeping fees
  • No minimum balance
  • Interest paid monthly

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Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

Across all employment in May, however, there was a slight recovery in jobs and payroll wages.

Some of the most-impacted industries due to COVID-19 lockdowns showed some recovery, according to ABS head of labour statistics Bjorn Jarvis.

“Payroll jobs in the accommodation and food services industry increased by 5.0% through May, but remained 29.1% lower than in mid-March,” he said.

“The latest data showed that the total payroll job losses since mid-March were greatest in the week ending 18 April (8.9%) and had recovered to a 7.5% loss by the end of May.”

Wages were down 8.3% in that period across all industries, with the only sector to see growth being education and training, up 0.7%. 

Accommodation and food services took the biggest wages hit, down more than a quarter, followed by mining at just over a fifth.



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