650,000 Aussies face COVID-19 lay-offs

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The majority of the Morrison Government’s COVID-19 support measures are due to conclude at the end of September. These measures include the JobKeeper program, the expanded JobSeeker allowance, and the loan guarantee scheme for small and medium businesses.

Although some sections of the economy are showing signs of recovery, the majority of economists believe that ending the support measures in September is unrealistic and would stifle the economic recovery:

“When jobseeker payments fall, it will affect growth further,” Pradeep Philip, head of Deloitte Access Economics, told Guardian Australia.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.