["Australian Economic Review, Volume 59, Issue 1, Page 20-58, March 2026. ", "\nABSTRACT\nThis article presents a 5‐year review of Australia's labour market from early 2020 through to the end of 2024, what I term the ‘COVID‐19 era’. A first objective is to provide a history of the main developments in the labour market during this period. The evolution of employment outcomes is charted, together with analysis of how adjustment happened, which jobs and workers were most affected, and the role of government policy. Topics relating to wage growth, labour supply and labour productivity are also covered in detail. A second objective is to demonstrate that understanding the COVID‐19 era enables important lessons to be drawn about the operation of Australia's labour market and about policy—relevant both for today and for similar future episodes."]