This series of graphs were presented at ACOSS’ post-budget event on Monday 12 October 2020.
Individual graphs and data can be downloaded below.
Impact of Coronavirus Supplement and JobKeeper on poverty
(Based on after-housing poverty rates in Ben Phillips, Matthew Gray and Nicholas Biddle (2020) COVID-19 JobKeeper and JobSeeker impacts on poverty and housing stress under current and alternative economic and policy scenarios, ANU Centre for Social Research and Methods)
Unemployment rose fast and is expected to fall slowly (Treasury projections)
(Based on Labour Force data from the Australian Bureau of Statistics)
Note: The effective unemployment rate here includes people who have lost their jobs and left the labour market, as well as those who have had hours reduced and were possibly receiving JobKeeper payment.
The costs of job creation
Note: Average cost (rounded) for each additional job created within the next two years.
Sources: 2020 Budget papers; Grudnoff M (2020), Tax cuts or spending: What is the most effective stimulus? Australia Institute; SGC Economics (2020), Economic impacts of social housing investment; Australia Institute (2020); Deloitte Access Economics (2018), Analysis of the impact of raising benefit rates; Department of Employment (2016), The effectiveness of wage subsidies in Job Services Australia.
Comparative breakdown of stimulus measures in the July and October budgets
Source: 2020 Budget papers
Stimulus measures in the October Budget
Source: 2020 Budget papers
How the tax cuts favour men over women
Source: The Australia Institute (2020), Media Release: Tax cuts favour men over women 8 October 2020