Treasury secretary Steven Kennedy has told a Senate committee that he does not expect the downward trajectory of the unemployment rate to be affected by the imminent end of the JobKeeper scheme.
However, Kennedy concedes that nearly 100,000 recipients of the wage subsidy who are working zero or minimal hours are most at risk of losing their jobs when the scheme ends:
[Dr Kennedy] said the job losses in the immediate aftermath would be “roughly matched” by employment growth associated with a labour market recovery he argued had been surprisingly strong coming out of the recession…
