Thousands more Aussies are expected to lose their jobs by the end of the year as the country plunges further into the nation’s worst recession since WWII.
The unemployment stimulus, which gives people out of work $1115 a fortnight while they try to find a job, will be cut to $815 on September 24 – and then $565 on December 31 when the supplement is due to end.
Labor fears the reduction will cause mass job losses and a knock-on effect on businesses with consumers having less money to spend. Dropping the payments by $250 means $375 million less will be pumped into the economy.for the first time in 30 years. After the Australian Bureau of Statistics released grim figures that the economy plunged by a record seven per cent in the June quarter alone, Labor leader Anthony Albanese attempted to move a motion to acknowledge the one million Australians out of work and 400,000 more expected to lose their jobs by Christmas.Unemployment remains at an all-time high as Australia slips into a deep economic recession.
“The Prime Minister is withdrawing support for Australians and the economy and … therefore calls on the Government to develop a plan to create jobs for Australians, instead of withdrawing support and cutting wages.”that the JobSeeker rate should be permanently increased to December to help support the economy.
“Australians who are out of work or who have had hours reduced during this crisis are spending their JobSeeker payments on local businesses, sustaining local jobs,” she said.
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