Half of subsidised jobs could go by Xmas - NZIER

Wed, 26 Aug 2020

The persistence of covid-19 and its economic impact could see about half the 482,000 jobs supported by the wage subsidy scheme lost by Christmas and unemployment reach 7 percent, the New Zealand Institute of Economic Research says. In its latest quarterly outlook, the institute noted that the unemployment rate had already risen to 4.9 percent as covid restrictions were relaxed and more people were able to look for work. But economist Dion Gamperle said a large number of people were now working reduced hours, with the average work week bei...

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