The young unemployed, older workers and public servants have all come out on the losing end of the budget and will need to find jobs when measures come into effect.
However, the government is offering subsidies to encourage employers to hire both young and older workers.
In an effort to get young people into employment, under-30s who are either school-leavers or new jobseekers will face a six-month wait for the dole.
After that waiting period, the government will provide six months’ worth of income support, but the unemployed person will have to participate in Work for the Dole, where they will work for up to 25 hours a week.
The benefit for employers comes in the form of wage subsidies, which the government will offer as an incentive to hire those young jobseekers who are still unemployed after a year.
These jobseekers will be unlikely to turn down job offers – if they refuse work “without any good reason”, according to budget papers, they will lose their payment for eight weeks, unless they can prove financial hardship or waive the penalty by doing extra activities.
Chris McDonald, country manager for job search site Indeed, said the Government’s focus on getting under-30s into work will have positive implications for the Australian economy, if it works.
“The Treasurer’s ‘young people must be earning or learning’ call-to-action must be supported by the careers advice that is delivered in schools.
“Providing the appropriate direction to school leavers will help the next generation decide what career is right for them, not mistaking the first available job for the right job,” said McDonald.
If you want to snap up workers with bureaucratic experience, this is your chance.
In the public sector, there will be 16,500 job losses over four years, including 2,000 as a result of changes in the budget and 76 government agencies will be abolished, merged, privatised or consolidated.
And as expected, the pension age will be raised to 70 for people born after 1966, with changes to eligibility – the amount solo pensioners can earn per year from their assets will drop from $46,600 to $30,000, while for couples, it will drop from $77,400 to $50,000.
Employers who hire an eligible mature-age worker will be paid a government subsidy of $10,000 across two years.
It seems that older workers are already proving popular in one sector – Airtasker, a website where people outsource odd jobs around the house and office, has reported that mature-age workers are being snapped up because of their skills and experience.
If you’re looking to hire, the Federal Budget may give you a helping hand – but it’s looking to be an unusual mix of jobseekers flooding the market.