JobKeeper expiry unlikely to spike unemployment

New government figures show that more than 90,000 people have come off welfare benefits since JobKeeper ended in late-March. The stronger than expected recovery also means that the federal government now expects the final cost of the JobKeeper scheme to be about $88.8 billion, down from the October 2020 Budget’s forecast of $101.3 billion:

Josh Frydenberg said the figures — in which at least 30,000 ­people came off welfare benefits in the week ending April 30 on top of 63,000 in the first weeks of the month…

The Treasurer said on Sunday that while 93,000 people were off benefits and job advertisements were at record highs, there was still work to do to secure the post-COVID recovery.

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