A research discussion paper released by the Reserve Bank of Australia (RBA), confirms what millions of Australians already know – that the Morrison Government\u2019s JobKeeper program was a country saving moment.
\nThe RBA paper titled,\u00a0How Many Jobs Did JobKeeper Keep,\u00a0<\/i>shows the temporary payment helped to reduce\u00a0\u201ctotal employment losses by at least 700,000.\u201d<\/i>
\nUnderlining the incredible impact JobKeeper had in helping to keep businesses in business and Australians in jobs, the RBA found that\u00a0\u201coverall employment losses would have been twice as large over the first half of 2020 without JobKeeper.\u201d<\/i>
\nThe report further stated that \u201cJobKeeper played an important role in cushioning the decline in employment over the first half of 2020<\/i>.\u201d
\nFor the six months to the end of September, around $70 billion in JobKeeper payments were made to around 900,000 businesses supporting more than 3.5 million jobs.
\nAs part of our Economic Recovery Plan the Government extended the temporary JobKeeper Payment by six months through until 28 March 2021.
\nThe extension of the temporary payment recognises that while the economic recovery is underway, some parts of the economy continue to be particularly affected more than others due to health restrictions imposed as a result of COVID-19.
\nWith 650,000 jobs created over the past five months, 80 percent of those Australians who either lost their jobs or saw their working hours reduced to zero at the start of the pandemic are now back at work.
\nThis has seen the effective unemployment rate come down from around 15 per cent in April to 7.4 per cent today.
\nOur Economic Recovery Plan outlined in the 2020-21 Budget will help to create more jobs, boost our economic recovery and secure Australia\u2019s future.<\/p>\n","protected":false},"excerpt":{"rendered":"
A research discussion paper released by the Reserve Bank of Australia (RBA), confirms what millions of Australians already know – that the Morrison Government\u2019s JobKeeper program was a country saving moment. The RBA paper titled,\u00a0How Many Jobs Did JobKeeper Keep,\u00a0shows the temporary payment helped to reduce\u00a0\u201ctotal employment losses by at least 700,000.\u201d Underlining the incredible … Continue reading “RBA confirms JobKeeper saved at least 700,000 jobs”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-9325","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/9325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=9325"}],"version-history":[{"count":0,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/9325\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=9325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=9325"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=9325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}