TTF Australia estimates additional 300,000 job losses following the expiry of JobKeeper

Tourism & Transport Forum (TTF) Australia stated (18-Feb-2021) economic modelling conducted by Stafford Strategy projected that without additional government funding when JobKeeper ends in Mar-2021, an additional 300,000 jobs across Australia will be lost. TTF Australia CEO Margy Osmond stated: "Of those job losses the bulk will be shed in our three most populous states with 118,000 in NSW, 85,300 in Victoria and 59,700 jobs in Queensland". The proposed rescue package, which TTF dubbed the 'Tourism Employee and Asset Maintenance (TEAM) program', is for targeted assistance of between AUD1000 (USD776.8) to AUD1500 (USD1,165.2) per fortnight for each employee of eligible businesses with a 30% to 50% or more downturn in their 2019 turnover. The TEAM rescue package has been costed at a total value of AUD7.74 billion (USD6 billion), covering the period from 01-Apr-2021 to 31-Dec-2021, reviewed quarterly. TTF said if the programme is put in place, the industry could regrow to 75% of its 2019 employment levels. [more - original PR]