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JobKeeper and JobSeeker Changes Announced With More Cash Handouts for Australians

JobKeeper and JobSeeker Changes Announced With More Cash Handouts for Australians
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Under the updated JobKeeper system scheduled to be introduced alongside improvements to JobSeeker Thursday, part-time and full-time employees are expected to earn different sums of cash.

Both the wage subsidy and the improved unemployment insurance are due to end in September, but the federal government has acknowledged that assistance will still be required in the past as the coronavirus epidemic continues.

Prime Minister Scott Morrison has announced industry-specific packages to support industries and areas most affected by limitations on COVID-19 such as leisure, transport and hospitality.

“There are other parts of the economy … for whom the turnover will continue to be down because of the COVID-19 pandemic and because of the restrictions that have been put in place on the economy,” he said.

Mr Morrison said there will be “several months” from when they reveal the latest or varied supports before they start giving companies time to get ready for them.

“What the treasurer and I will announce this week will not commence the day after we announced,” he said.

“There will be several months for businesses to adjust to the next phase.”

This is known that there might be a sliding scale of wages based on whether employees before the pandemic were part- or full-time.

Although Federal Treasurer Josh Frydenberg would not speculate on what point the JobKeeper figure might shift to, he said that stringent turnover requirements would apply to companies seeking wage support in the future, suggesting revenue decline.

“We are transitioning from the income support over time,” he said.

“We do recognise that this is a very challenging time for the Australian economy.

“The effective unemployment rate remains very high, just over 11 per cent.”

According to modelling done by The Australia Institute, if the benefit did revert back to its old rate, approximately 650,000 people would be pushed into poverty, including 120,000 children.

 

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