New data shows fewer Australians relying on JobKeeper wage subsidy than first forecast

Surprising new data from the Federal Government shows that far fewer people are relying on JobKeeper than first feared and budgeted for.

The latest figures suggest nearly 450,000 fewer businesses qualified for the wage subsidy in October than September, meaning the number of workers receiving the payments fell from 3.6 million to 1.5 million in less than two months.

That’s far less than the government’s forecast in the October federal budget that 2.2 million workers would still need the subsidy at the end of this year due to the coronavirus recession.

“The lower-than-forecast take-up of the JobKeeper Payment extension in October is further evidence that Australia’s recovery from this once-in-a-century pandemic is well underway,” Treasurer Josh Frydenberg said in a statement.

The number of people requiring JobKeeper is far lower than first feared. Credit: Getty

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