Boomer dole boom as Abbott floods with coolies

By Leith van Onselen

The Australian is reporting today that the number of over-50s that are on NewStart unemployment benefits has soared by 9% in a year, prompting accusations of ‘dole bludging’:

THE Employment Department has accused baby boomers of “retiring’’ on the dole, as the number of over-50s on Newstart jumped 9 per cent in a year.

Unemployment is rising five times faster for Australians in their 50s than for those in their 20s, the latest social-security data reveals, creating a “grey army” of 50,000 long-term jobless.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.