Business High School

Due to the severity of COVID 19 on households, the government of Australia announced Job Keeper Allowances to be given to the labour force that had lost employment. a. Examine the impact of Job Keeper Allowances during the COVID 19 recession on Australia's economy

Answers

Answer 1

The Job Keeper Allowances implemented by the government of Australia during the COVID-19 recession had a significant impact on the country's economy.

The Job Keeper Allowances played a crucial role in providing support to the labor force that had lost employment due to the pandemic. By providing financial assistance to affected individuals, the government aimed to mitigate the economic impact of the recession and prevent a more severe downturn.

During the COVID-19 recession, many businesses faced closures and layoffs, leading to a sharp increase in unemployment rates. The Job Keeper Allowances helped to stabilize household incomes and maintain consumer spending to some extent. This financial support provided a lifeline for individuals and their families, reducing the adverse effects of unemployment on their well-being and living standards. It also helped to prevent a larger decline in aggregate demand, supporting businesses and preventing a more severe contraction in economic activity. By supporting the labor force and maintaining household incomes, the Job Keeper Allowances played a crucial role in cushioning the negative impact of the recession and aiding the overall recovery process.

learn more about covid here:brainly.com/question/30785207

#SPJ11

Related Questions

Other Questions
when your hand touches a hot stove, you immediately and reflexively pull it away. This action was controlled by your _____A)CNSB)spinal cordC)brainD)reflexes requests to perform research studies are considered by which hospital group?a. Board of Directorsb. Medical Record Committeec. Administrationd. Institutional Review Board The declaration's mention of a "heavy toll" on the third paragraph was most likely a reference to which of the following? A. The casualties of the first war B. The deaths that occurred as a result of the use of nuclear weapons during the second war C. The deaths that occurred during the holocaust D.the mass violence that occurred under communist leaders, such as Mao Zedong Find the sum of the first 27 termsof the arithmetic sequence.First, fill in the equation.a= 5 and a27Sn = 2/(a + an)Sn =[?]2+=83 Choose the correct answer (Geology)5. Isoclinal fold has: O a. The two limbs dip in the same direction. Ob. The two limbs dip at equal angle in the same direction. O c. The two limbs dip at equal angle in different direction.