Question 1(Total 10 marks)

(a) Describe theJob KeeperandJob Seekerprograms implemented by the Australian federal government to mitigate the consequences of lockdown restrictions due to COVID-19 on the labour market.

(b) Using data from the Australian Bureau of Statistics (ABS) (http://www.abs.gov.au/) collect monthly data on the unemployment rate and hours worked from January 2019 until the most recently available monthly data - at least June 2021. Employ seasonally adjusted data for all persons. Cite the employed ABS publication, table numbers and series id. Plot the unemployment rate and hours worked monthly data against time. Comment on reasons for the time series movements in these data paying particular attention to the COVID recovery phase January 2021 - June 2021.

(c) Discuss the relative merits of using: i) unemployment rate or ii) hours worked data; to describe the impact of lockdown restrictions due to COVID-19 on the labour market given the operation of theJob KeeperandJob Seekerprograms.

Use diagrams where appropriate to enhance and explain your response.Provide supporting evidence and references where appropriate to justify your arguments.