The $89 billion JobKeeper wage subsidy rushed in during the pandemic cost about $112,819 per annual job saved, according to a new independent analysis by economists for the Australian National University.
Some 812,000 jobs were saved out of the 3.6 million workers who qualified for the wage subsidy, estimated Timothy Watson, Juha Tervala and Tristram Sainsbury.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
