Victoria’s JobKeeper recipients by suburb: which postcodes are most reliant on the subsidy
New data has revealed the Greater Melbourne suburbs suffering the worst from the COVID-19 financial crisis. SEE OUR STATE’S WORST HIT SUBURBS HERE.
Leader
Don't miss out on the headlines from Leader . Followed categories will be added to My News.
Greater Melbourne may resemble a ring of fire when it comes to hard-hit postcodes with the highest JobKeeper dependency across the state — but the financial impact of the pandemic is targeting the inner-city as well.
The latest national analysis by Taylor Fry can reveal the Victorian postcodes with the most significant reliance on the Federal Government’s temporary payment scheme, as well as the suburbs suffering the most when it comes to household’s their hip-pocket.
TOP 10 MELBOURNE SUBURBS SUFFERING FINANCIAL HARDSHIP
3182, St Kilda
3057, Brunswick East
3183, St Kilda East
3184, Elwood
3321, Golden Plains - South
3231, Lorne - Anglesea
3981, Koo Wee Rup
3809, Beaconsfield - Officer
3054, Carlton North - Princes Hill
3067, Abbotsford
Taylor Fry principal, Alan Greenfield said the geographical breakdown of JobKeeper reliance across the country revealed metropolitan areas are “generally more reliant on the payments than regional areas”, with the exception of tourist destinations.
“There are two overarching drivers of JobKeeper reliance for a local area,” he said.
“Firstly, locations with a larger percentage of residents in the workforce (not unemployed or retired) are more exposed to the financial consequences of the pandemic and therefore more likely to end up being reliant on JobKeeper.
“Secondly, some industries of employment are just more likely to qualify for the scheme — this is important because employees can only get JobKeeper if their employer qualifies for the scheme, and that requires their employer to have lost a substantial share of their revenue. “Typically, this has affected middle income earners in occupations such as retail, hospitality, construction and accommodation.”
Inner-city suburbs such as Newport, Elwood, St Kilda East and Richmond, as well as the greater Brunswick area are some of the most reliant on JobKeeper in the state, however, Mr Greenfield said it’s the outer eastern suburbs of the state capital that are most reliant on the scheme to keep their jobs afloat.
“The jobs most affected are typically the ones keeping the local community running such as hospitality, construction, childcare and retail. In other words, sustaining these jobs is in the interest of everyone in the community”, Mr Greenfield said.
Although postcodes closer to the Melbourne CBD seem to be less reliant on JobKeeper, it doesn’t mean people living here aren’t feeling the financial impact of the pandemic.
“The citizens of white-collar neighbourhoods closer to the city may have lost their job or been hit by reduced hours or pay, but if the employer hasn’t seen a large enough drop in revenue to qualify for JobKeeper, then they won’t be able to access the payments”, he said.
Meanwhile, postcodes on the outskirts of the city, which make up suburbs including Cranbourne, Pakenham, the Yarra Valley, Healesville, Hurstbridge, Wallan and Rockbank are also some of the state’s most reliant on the government’s temporary $1500 fortnightly subsidy.
Analysis by Taylor Fry of the government’s latest take up rates sees Victoria’s regional areas braving the COVID-19 financial crisis much better than their inner-city neighbours, however pockets in Otway, Mt Beauty, Stratfieldsaye and Warrnambool — as well as the some of the state’s other tourist destinations — have witnessed an increase in applications for JobKeeper payments.
*Taylor Fry is a data analysis company that provides up-to-date, analytical breakdowns of data for commercial businesses and government agencies