Business
‘Cushioning the decline’: RBA finds JobKeeper saved 700,000 jobs – Sydney Morning Herald
RBA research estimates twice as many people would have lost their jobs in the first half of 2020 if not for the government’s JobKeeper wage subsidy scheme.
The first six months of the scheme cost $70 billion and the RBA found, on the assumption a similar number of roles were saved over the full period, the cost of saving each job was $100,000.
This compared favourably to other countries with wage subsidies, including the United States, the researchers said. There are some significant differences between global schemes introduced during the pandemic and the paper did not measure the costs and benefits of what it described as one of the most significant…
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