JobSeeker Payment Increase Urged by Expert Panel
An expert panel advising the Australian government on income support has called for a significant increase to the JobSeeker unemployment payment. The panel, established in 2022, argues that the current payment is too low and leaves many recipients struggling to afford essentials.
The panel recommends increasing the JobSeeker payment to 90% of the age pension, which would amount to a daily increase of around $17. This would bring Australia's unemployment benefits closer to the OECD average, currently the lowest among member countries.
The panel acknowledges concerns about inflation but argues that the impact of the proposed increase would be "small to negligible." They estimate the cost of the increase at $4.6 billion per year, compared to the $1.3 billion cost of the smaller increase implemented in the last budget.
The government has acknowledged the panel's advice but has not yet indicated whether it will adopt the recommendations. The ministers responsible for the budget have stated that they will consider the advice alongside other priorities and fiscal challenges.
Expert panel recommends increasing JobSeeker payment by $17 per day.
Increase would bring Australia's unemployment benefits closer to OECD average.
Panel argues impact on inflation would be minimal.
Cost of increase estimated at $4.6 billion per year.
Government acknowledges advice but has not yet committed to adopting recommendations.