400,000 Aussies face losing JobSeeker access

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As we all know, the JobSeeker supplement (alongside JobKeeper) will be cut this weekend from $1100 to $815.

There is widespread concern that the wind back of the JobSeeker supplement will push many Australians into poverty, as well as pull billions of dollars out of the economy.

For example, Deloitte this month forecast that scrapping the JobSeeker coronavirus supplement would cost 145,000 jobs over two years and reduce GDP growth by $31.3 billion.

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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.