Loss of JobKeeper at end of March will hit about 18,000 businesses and 48,000 workers in SA
When JobKeeper payments end in a fortnight, more than 10,000 Adelaide CBD workers will be hit the hardest. See all the SA areas where it will bite.
SA News
Don't miss out on the headlines from SA News. Followed categories will be added to My News.
The end of JobKeeper will cut off a $50m-a-fortnight boost for South Australia’s economy, with Adelaide’s CBD set to be the hardest hit when the wage subsidy ends.
About 10,800 workers and 3500 businesses across the federal electorate of Adelaide are expected to come off the payment when it ends on March 28, ripping away about $10.4m in stimulus a fortnight for the region, according to federal Labor estimates.
About 18,000 businesses and 48,000 workers in SA were still on JobKeeper in January.
Labor’s modelling, based on Australian Taxation Office data, shows Sturt in Adelaide’s east will be the next hardest hit after the CBD, with about 7120 workers and 2315 businesses expected to come off the payment, resulting in about $6.9m less stimulus per fortnight for the region.
The electorates of Boothby and Mayo, which covers the tourist hotspots of the Adelaide Hills and Kangaroo Island, will be the next most impacted, with about 5620 workers expected to come off the payment in Boothby and 5233 in Mayo.
“Cutting JobKeeper is cutting jobs. It’s that simple,” Labor treasury spokesman Jim Chalmers said.
“What I heard loud and clear from workers and small businesses still impacted by the international border closure is that, while any extra support is welcome, there’s no substitute for a responsible, temporary and targeted extension of JobKeeper.”
More than 1500 CBD businesses were still receiving JobKeeper in February, with thousands more across SA, Treasury and ATO data shows.
Postcode 5067 – Norwood, Kent Town and Rose Park – had the second-largest number of businesses receiving JobKeeper at 427. Third was postcode 5159, with 351 recipients in Aberfoyle Park, Happy Valley and Flagstaff Hill.
Unlike other states where regional areas have been hit hard, all of SA’s 10 worst-affected postcodes are within the Adelaide metropolitan area.
More than 95 per cent of businesses that enrolled in JobKeeper are sole traders or small businesses employing fewer than six people.
Forecasts of national job losses from JobKeeper’s shutdown have ranged from 100,000 to 250,000, and last week’s $1.2bn Federal Government program involving half-price airfares to tourist destinations has been criticised as doing nothing for other struggling sectors.
AMP Capital chief economist Shane Olive estimates 150,000 jobs will disappear nationally.
Police storm Ingle Farm home, seize meth, firearms and cash
A northern suburbs duo will face court after police stormed a Ingle Farm property and found prohibited items.
‘Beyond magnificent’: SA activist boasts online after attacks on Israel
A former university student magazine editor has made social media posts praising Hezbollah’s deceased leader while seemingly declaring Iranian attacks on Hamas were “beyond magnificent”.