Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Hansard source

The JobKeeper program, which has been a rescue package for the Australian community at a time of need, has helped, according to the Reserve Bank of Australia, save around 700,000 jobs at a cost of an expected $90 billion.

As the economy has strengthened, we have seen thousands and thousands of our fellow Australians graduate off the JobKeeper program. Preliminary data from the ATO for the month of January has shown that there were around 600,000 fewer Australian workers on JobKeeper in the month of January compared to the December quarter, and around 140,000 fewer Australian businesses on JobKeeper in the month of January compared to the December quarter. That means that around 2.7 million Australian workers have graduated off JobKeeper. That is a sign of an economic recovery that is well underway, and it follows the unemployment rate falling to 6.4 per cent. The underemployment rate is at its lowest level in many years. Up to 94 per cent of the 1.3 million Australians who either lost their jobs or saw their working hours reduced to zero at the start of this pandemic are now back at work.

There is a long way to go. There are sectors and regions across the economy that are still doing it tough, and the Morrison government has their back. There's continued economic support that continues to roll out across the economy, and our focus is on creating jobs. That is what we're seeing right now in the Australian economy.

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