OECD: Australia’s unemployment payments way too low

The OECD has released its 2021 Australian Economic Survey, which highlights that Australia’s unemployment payments are pitifully low and should be raised:

Recently, the working-age unemployment benefit was raised by AUD50 per fortnight. However, the benefit for a single person in the first month of unemployment in Australia, at just 29% of the average wage, is still very low by OECD standards (Figure 1.13)…

The income shock from falling into unemployment in Australia is much larger than in other countries and minimum income supports remain well below the relative poverty line. Indeed, one estimate suggests that 85% of recipients of unemployment benefits will be in poverty (Phillips 2021).