The Australian Retailers Association (ARA) welcomes today’s announcement by Prime Minister, the Hon Scott Morrison MP to extend JobSeeker payments to March 2021, which will help support out-of-work Australians through the Christmas period.
Whilst the amount applicable from January 2021 is tapered from the current payments, ARA CEO Paul Zahra said the extra support will help our most vulnerable Australians whilst also aiding a retail recovery.
“This is great news for those Australians who are out of work in historically high numbers and also a win for our economy with research consistently showing that every dollar of social security support returns at least 58 cents to our retail economy,” said Mr Zahra.
“This is all part of a virtuous circle of economic recovery – with retail employing one in ten Australians and every dollar spent in retail helping deliver income to a host of Australian workers and suppliers.
“The timing is good, allowing those on JobSeeker to feel more confident to open their wallets for the all-important Christmas shopping season, which delivers up to two thirds of retail profits for the year,” said Mr Zahra.
“The ARA has consistently called for JobSeeker to be permanently extended. Providing a 3-month extension is a bandaid on a social and economic wound that we need to address as a nation, however we are pleased that there is now more time to identify a permanent solution during this critical period in our recovery,” said Mr Zahra.
