A long-awaited socio-economic study into the impact of implementing Tasmania's forest peace deal is being viewed with scepticism by the Opposition and business lobby, but the forest union says it proves the agreement will save jobs.

The report commissioned by the Federal Government, and co-authored by a director of Forestry Tasmania, predicts a further 500 forest industry jobs will be lost if the deal to end most native forest logging does not become law.

The report was released yesterday by the Federal Regional Development Minister, Simon Crean, who welcomed it as proof the agreement will work.

"I think it's a wake-up call for the industry and it's a significant turning point.

"It could be a watershed," the Minister said.

The report says direct and indirect job losses will amount to more than 400 if the Legislative Council passes legislation needed to enforce the deal.

But if the laws are not passed, the figure swells to more than 1,900, including about 680 forest jobs, taking in the closure of Ta Ann's two mills.

The Opposition's forestry spokesman, Peter Gutwein, says this scenario is flawed as it assumes that logging will not continue outside the 570,000 hectares of native forest under contention.

"Absolutely no doubt that the worst case scenario is a doomsday-based scenario.

"This is a report that was commissioned by the government for the government and provides the result that the government wanted," Mr Gutwein said.

One of the forest industry groups which signed the peace deal has described the report as robust.

But the Chief Executive of the Forest Industries Association, Terry Edwards, shares some of the Opposition's concerns.

"It is unreasonable to suggest that the full 572,000 hectare original claim made by ENGOS would suddenly become unavailable if the agreement hadn't been reached or is not passed by the parliament.

"I think that's entirely unreasonable," he said.

Phil Bayley of the Tasmanian Chamber of Commerce and Industry says the Government's interpretation of the report is misleading.

"The report does say that the two scenarios presented shouldn't be compared and yet that is what the government appears to be doing," he said.

Jane Calvert from the union representing forest workers says the report shows the deal will protect hundreds of jobs and stability will return to the native forest sector if it becomes law.

Legislative Councillors were given a copy of the report on Tuesday night.

The Upper House committee scrutinising the peace deal's enacting legislation reconvenes today for a final round of hearings.