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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ongoing NSW lockdown, the ins and outs of the COVID-19 Disaster Payments, and how Brisbane’s successful Olympics bid could impact equities and property.

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Steve Waters, director of Right Property Group, chats about the impact of the lockdowns on the property market, what the 2032 Olympics could mean for Brisbane’s market, and whether APRA might need to pull the handbrake to cool house price growth.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into how the Olympics and other major events affect stock returns and what the implications are for investors.

And lastly, tax and super guru Timothy Munro talks about the near-record super returns, the COVID-19 Disaster Payments and what they mean for your super.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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JobSeekers could soon be asked to head to the regions to fill jobs

By Maja Garaca Djurdjevic

March 09 2021
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JobSeekers could soon be asked to head to the regions to fill jobs

By Maja Garaca Djurdjevic
March 09 2021

The government is planning to plug regional jobs by taking a tougher approach to JobSeekers, requiring Aussies on the payment to move to fill jobs in regional Australia.

JobSeekers could soon be asked to head to the regions to fill jobs

By Maja Garaca Djurdjevic

March 09 2021
Share

The government is planning to plug regional jobs by taking a tougher approach to JobSeekers, requiring Aussies on the payment to move to fill jobs in regional Australia.

With 54,000 jobs said to currently require filling in regional Australia, the government is intending to toughen JobSeeker mutual obligations by requiring Aussies to move to fill existing jobs in order to curb the already great cost to taxpayers.

“JobSeeker program will soon increase mutual requirements, require people to move to fill jobs in regional Australia,” Prime Minister Scott Morrison said in his speech to AFR Business Summit.

Mr Morrison explained that despite targeted measures to incentivise Australian JobSeeker recipients to relocate to where the jobs are, “unemployed Australians are simply and regrettably not filling these jobs”.

“If there is a job available, and you are able to do that job, then it is reasonable for taxpayers to expect that it will be taken up, rather than continue to receive benefits,” the PM added.

JobTrainer extended, JobKeeper successor on the cards

Touching also on the stimulus measures that will be prolonged beyond their initial cut-off date, the PM announced that the government is removing the cap on eligible JobTrainer places and extending the duration of support to 12 months from the date the apprentice commenced with their employer.

The JobTrainer measure, which saw the federal, state and territory governments partner to establish a $1 billion fund, offers subsidised training to jobseekers, young people and school leavers to learn skills for jobs in demand.

The intention was to create 300,000 additional training places that would be offered for free or at a low fee, in areas of identified skills need such as health, aged and disability care, IT and trades for jobseekers and young people, including school leavers.

“When combined with the 30,000 extra university places this year, this meant school leavers entering the post-recession economy with options and a future to look forward to,” Mr Morrison said.

“With 100,000 new apprenticeship positions already snapped up, it highlights the confidence businesses have in the future of the Australian economy,” he added.

Additionally, the PM hinted that targeted measures will be provided to suffering industries, such as aviation and travel, noting that once JobKeeper is drawn back, the “COVID economic shock will continue”.

“We do understand that ongoing targeted measures will be necessary to maintain our aviation and travel industry while assisting regions that are heavily reliant on international tourists by boosting domestic tourism to those areas.”

He did, however, acknowledge that Australia cannot run on “taxpayers’ money forever”.

“Since October last year, as the economy began gearing up, we have been gearing down JobKeeper and the JobSeeker COVID supplement.

“Both measures will now cease as planned at the end of this month. This is consistent with the principles that I set out here a year ago,” Mr Morrison concluded.

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About the author

Maja Garaca Djurdjevic

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

About the author

Maja Garaca Djurdjevic

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

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