JobKeeper too costly to keep

Original article by Sarah Turner
The Australian Financial Review – Page: 1 & 24 : 29-Jun-20

A quarterly survey of economists shows that there is general consensus that while the JobKeeper wage subsidy scheme has been effective, it needs to have an end date. JobKeeper is slated to end in late September, and Warren Hogan from the University of Technology, Sydney says the increase in the JobSeeker payment could be extended by six months to accommodate JobKeeper recipients who have not returned to work when the scheme ends. The survey has also found that economists expect the Australian economy to contract by four per cent in 2020, while the unemployment rate will peak at eight per cent by the end of the year.


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