Slashing JobSeeker would crush consumer spending

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1.6 million Australians will reportedly be forced to skip meals if the JobSeeker payment is returned to its former level of $40 per day once stimulus measures expire in late-September:

Three in four unemployed Australians forced to survive on the old $275-a-week dole were forced to skip meals or couldn’t afford fresh fruit and vegetables.

Now, there are fears this is the grim future that more than 1.6 million Australians face when the JobSeeker payment is slashed at the end of September.

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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.