Breaking: Depressionberg looks in mirror, sees Brad Pitt

Monday 30 November 2020

Via AFR:

The JobKeeper wage subsidy is being paid to 700,000 fewer people than forecast in the October 6 budget, which the federal government says shows the economy is recovering faster than anticipated.

The latest Australian Tax Office data released by Treasurer Josh Frydenberg shows the number of JobKeeper recipients fell from 3.6 million employees working for almost one million businesses under the old scheme, which ran from March to September, to 1.5 million working for about 500,000 businesses under the new, two-tiered scheme.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.