New figures show that the return of JobSeeker payments to pre-pandemic levels will rip out almost $3 million a week from the local economy.
Based on average 2019 earnings, Ballarat Federal Labor MHR Catherine King said the amount of spending money reduced in her seat – which includes Moorabool Shire – would be equivalent to ditching 2367 jobs.
“This is despite there being 13 people receiving unemployment benefits for every one vacancy in Victoria,” she said.
“Millions of out-of-work Australians are anxious about what level of support will be available to them at the end of September.
“It defies reality that the Prime Minister believes that he can snap back JobSeeker when there nowhere near enough jobs for the people who need them.”
In Victoria, 389,200 people are on unemployment benefits but in May there were only 28,700 jobs up for grabs.
“This means there are 13 people out of work for every Victorian job vacancy,” she said.
“The snap back of JobSeeker is going to place our nation’s economic recovery at risk.
“This will be compounded by the scheduled snap-back of JobKeeper.”
Ms King has called for current JobSeeker and JobKeeper arrangements to be extended.
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Main image: Catherine King and Federal Opposition Leader Anthony Albanese in Eden-Monaro, July 2020.