News by Frank Chung 5th Mar 2021 3:04 PM Up to a quarter of a million Aussies could lose their jobs in a wave of business collapses as JobKeeper ends this month, experts have warned. The Federal Government will finally pull the plug on its $90 billion wage subsidy scheme on March 28, as the Australian economy begins to stand on its own two feet after the devastation caused by COVID-19 lockdowns. But a leading labour market economist warns that the withdrawal of the wage subsidy will wipe out thousands of businesses that until now had been kept afloat by the scheme. My best guesstimate is that 125,000 to 250,000 persons might lose work when the program finishes at the end of March, Professor Jeff Borland from the University of Melbourne wrote in his labour market snapshot on Wednesday.
250k Aussies may soon lose their jobs
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250k Aussies may soon lose their jobs
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