Earn
1.5m workers still relying on JobKeeper as subsidy approaches its end
The number of Australians relying on JobKeeper has almost halved. However, 1.5 million workers are still relying on the government scheme as it approaches its end.
1.5m workers still relying on JobKeeper as subsidy approaches its end
The number of Australians relying on JobKeeper has almost halved. However, 1.5 million workers are still relying on the government scheme as it approaches its end.
Fresh ATO figures have revealed that 2.1 million people and 520,000 businesses have come off the government’s JobKeeper wage subsidy since the end of September.
The ATO is also reporting a 56 per cent drop in those relying on JobKeeper between phase one of the scheme that ended in September and phase two, which wound up in December.
All forms of JobKeeper are set to finish on 28 March.
Treasurer Josh Frydenberg said the data “shows a remarkable recovery in Australia’s labour market”, but was quick to point out people are still being impacted by the COVID-19 pandemic.
“This doesn’t take away from the fact that there are still many people in many regions who are doing it tough, but this latest data from the Australian Taxation Office is another sign the economy is strengthening,” he said.
He also highlighted that unemployment is now down to 6.6 per cent, with 320,000 jobs created in the past three months, beating the RBA’s best-case scenario from August.
“Employment levels for those aged 35 and above are particularly strong, higher today than they were before the pandemic,” Mr Frydenberg said.
“It is in this context that the Reserve Bank of Australia has updated its unemployment forecasts to 6 per cent by the end of this year and 5.25 per cent by June 2023.”
JobKeeper by state and territory
Overall, the number of individuals supported by the JobKeeper program stood at 1.54 million in December 2020, down from the 3.6 million recorded in the month of September 2020.
Every state and territory recorded a decrease of at least 60 per cent in employees receiving JobKeeper from the first phase to the second phase, with the exception of Victoria, which recorded a decrease of 44 per cent, due to a second wave of COVID-19.
Western Australia led the way with a 70 per cent decrease in employees receiving JobKeeper payments, followed by the Northern Territory (69 per cent), South Australia (67 per cent), Tasmania (65 per cent), Queensland (64 per cent), the ACT (62 per cent) and NSW (60 per cent).
However, Treasurer Josh Frydenberg said that despite the encouraging figures, some families and businesses are still doing it tough.
“With 785,000 jobs created in the last seven months, our focus continues to be getting people back into work,” Mr Frydenberg concluded.
About the author
About the author
Salary
1 in 4 Aussies is now looking to change their job
With the economy beginning its recovery from the COVID-19 downturn, Australian workers are now actively seeking new employment, a survey has revealed. ...Read more
Salary
Aussie workers exceed expectations – but can it last?
Australian workers have adapted to changing working conditions caused by the COVID-19 pandemic, with the majority of bosses saying workers exceeded expectations. ...Read more
Salary
Do business better: The next normal needs older workers
The fallout from the global pandemic is reshaping the way in which people of all ages work. More people are working from home than ever before and many companies have had to adapt their business model...Read more
Salary
Budget must focus on imbalances, says ACTU
Unions are warning the Morrison government ahead of the budget, noting that Australia will judge them based on several key factors, including how they protect the working people and build greater re...Read more
Salary
Is it time to adopt a 4-day working week?
With Spain becoming one of the first countries to trial a four-day work week, calls have increased for Australia to trial similar model, which would see full-timers week reduced to 32 hours at the sa...Read more
Salary
How to survive and thrive in the gig economy
What do Uber drivers, Upworkers and Taskrabbiters have in common? They’re part of what’s often referred to as the “gig economy”, comprising millions of Aussie workers. ...Read more
Salary
Unions call for minimum wage increase as Australians get back to work
The unions are calling for the minimum wage to be increased to help aid the economic recovery from the COVID-19 downturn, as the latest job figures show Australians are getting back to work. ...Read more
Salary
Labour market’s ‘miraculous’ recovery
The economic recovery is continuing, with Australia’s unemployment rate continuing to fall, official figures show. ...Read more
Has the property market reached its peak; Biden’s climate summit and our sharemarket, and the upcoming budget
Listen now
Is the market overheating; should ETFs take your fancy, and what’s happening to the low and middle income tax offset?
Listen now
Home values up 30% (or are they); NFTs taking the world by storm, and why Keating thinks Aussies will be ‘poor’ in retirement
Listen now
Raging floods, the tech stock bubble and the ongoing SG debate
Listen now
Salary
1 in 4 Aussies is now looking to change their job
With the economy beginning its recovery from the COVID-19 downturn, Australian workers are now actively seeking new employment, a survey has revealed. ...Read more
Salary
Aussie workers exceed expectations – but can it last?
Australian workers have adapted to changing working conditions caused by the COVID-19 pandemic, with the majority of bosses saying workers exceeded expectations. ...Read more
Salary
Do business better: The next normal needs older workers
The fallout from the global pandemic is reshaping the way in which people of all ages work. More people are working from home than ever before and many companies have had to adapt their business model...Read more
Salary
Budget must focus on imbalances, says ACTU
Unions are warning the Morrison government ahead of the budget, noting that Australia will judge them based on several key factors, including how they protect the working people and build greater re...Read more
Salary
Is it time to adopt a 4-day working week?
With Spain becoming one of the first countries to trial a four-day work week, calls have increased for Australia to trial similar model, which would see full-timers week reduced to 32 hours at the sa...Read more
Salary
How to survive and thrive in the gig economy
What do Uber drivers, Upworkers and Taskrabbiters have in common? They’re part of what’s often referred to as the “gig economy”, comprising millions of Aussie workers. ...Read more
Salary
Unions call for minimum wage increase as Australians get back to work
The unions are calling for the minimum wage to be increased to help aid the economic recovery from the COVID-19 downturn, as the latest job figures show Australians are getting back to work. ...Read more
Salary
Labour market’s ‘miraculous’ recovery
The economic recovery is continuing, with Australia’s unemployment rate continuing to fall, official figures show. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
