Almost half of jobs in New Zealand supported by government subsidy
Nearly half of New Zealand’s jobs (47%) were supported by government wage subsidies, which has helped keep the country’s unemployment low, according to the government.
The subsidies were of critical importance in helping the economy recover from the impact of the pandemic, noted Minister for Social Development and Employment Carmel Sepuloni in a statement.
“Our government has worked hard to cushion the impact of COVID-19 on businesses and people’s jobs and livelihoods. This new report shows that the wage subsidies served to protect jobs and support businesses that might otherwise have been lost,” said Sepuloni, referring to a new report by the Ministry of Social Development.
“While we have seen the number of people receiving a main benefit rise due to COVID-19, interventions like the wage subsidies and government investment have meant the numbers are well below what was forecast,” the minister added.
In 2020, some 69% of employed men and 54% of working women were supported by a wage subsidy. In 2021, this fell to 54% and 41% respectively.