Treasurer Josh Frydenberg has released the key findings of the Treasury department’s Jobkeeper review:
- 2 million Australians either lost their jobs or saw their household incomes reduced between February and May this year
- Creating an unemployment rate of 7.4% and effective unemployment rate of 11.3%
- 30% of the private sector workforce had been supported by the jobkeeper payment.
- 44% of businesses on jobkeeper said that jobkeeper influenced their decision to keep their staff
- 47.1% of recipients of the program were women, compared with 44.9% of the private sector workforce.
“Treasury’s review found that jobkeeper met its three primary objectives, namely to save jobs and businesses, to maintain the formal connection between employers and employees, and to provide income support,” said Treasurer Frydenberg.
“In the four weeks to mid-April, payroll jobs decreased by 8.1% but after jobkeeper, jobs started to stabilise.”