Economists are going to be watching how the economy develops in the coming weeks and months following the end of a major support package that steered the economy through the COVID-19 recession. The JobKeeper wage subsidy officially ended on Sunday, potentially leaving up to 150,000 people without a job, according to Treasury. There is great uncertainty as to whether the economic rebound from the recession so far has enough momentum to absorb these potential job losses, or whether it will bring the steady decline in the jobless rate to an abrupt halt. “Labour market indicators will be potentially hot property for the local market in coming weeks and months as the economy traverses the end of JobKeeper,” National Australia Bank economists said in their morning note to clients. About one million people were still on JobKeeper as of January, after 2.7 million people and 680,000 businesses had transited off the …
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