Budget 2020: Who is getting a job from the Federal Budget?

Updated 6 October 2020 at 5:43 am·6-min read

Rolling coverage: For more Yahoo Finance stories on the 2020 Federal Budget, visit here.

“This Budget is all about jobs.”

That’s what Treasurer Josh Frydenberg declared when announcing the 2020-21 Federal Budget.

In order to patch up the huge pool of unemployed Aussies, huge sums have been poured into infrastructure, construction and investment, with the Government hoping that these massive projects will create jobs in the coming years and lift the unemployment rate.

More on Budget 2020: What it means for you
More on Budget 2020: Winners and losers

This year’s federal budget is his plan to create those jobs – though independent economist Stephen Koukoulas isn’t so sure the promise rings true.

In any case, these are the jobs the Morrison government has said it will support:

Apprentices, trainees

100,000 new apprenticeships will be created through a new $1.2 billion Boosting Apprenticeships Wage Subsidy package. The government will pay for half the wages of a new apprentice or trainee taken on by an employer, with a cap of $7,000 per quarter.

The package aims to incentivise Australian employers to take on new workers.

Young Australians

A new wage subsidy scheme, the JobMaker Hiring Credit, has been promised to young Aussies wanting to find work. It will be for employers recruiting people between 16 and 35.

Employers will be able to access the hiring credit from 7 October for each new job they create over the next 12 months.

$1 billion has been thrown into the JobTrainer fund which will support 340,700 extra free or low-fee training places to help upskill and retrain job seekers and young people, including school leavers.

Read more: New ‘JobKeeper’ for young, jobless Aussies

Construction workers

If you build buildings or roads, you’re a major winner.

Since the Covid-19 pandemic hit, $14 billion more has been thrown into new and current infrastructure projects over the next four years which are estimated to create a further 40,000 jobs over the construction period.

A further $7.5 billion has been pledged to national infrastructure projects in every single state and territory, which the Treasurer says will help “create jobs and to get people where they want to go sooner and safer”.

“We will draw on local businesses to stimulate local economies through these projects,” added deputy prime minister Michael McCormack.

This investment forms part of a plan to support 30,000 direct and indirect jobs, Morrison said.

Not only that, but the HomeBuilder scheme has been extended for another 12 months in what Morrison has said would drive a “tradie-led” recovery.

This is touted to support “140,000 construction jobs and a million more in the wider residential building sector, such as architects, materials suppliers and manufacturers, and engineers.

On top of all this, an extra $3 billion has been thrown in towards smaller-scale “shovel-ready” projects, and another $1 billion for the Local Roads and Community Infrastructure Program. Altogether, these programs will support 10,000 jobs in the next two years.

Tradies

The First Home Loan Deposit Scheme has been extended to a further 10,000 participants in hopes that it will not only help first home buyers secure a house, but also spur on new jobs in the trades sector.

“Our First Home Loan Deposit Scheme will help support all our tradies right through the supply chain including painters, builders, plumbers and electricians," Frydenberg said.

"At around five per cent of GDP, our residential construction industry is vital to the economy and our recovery from the coronavirus crisis."

Manufacturers

$1.5 billion has been poured into six key manufacturing areas of mining, food and drink, medical products, recycling and clean energy, defence and space.

Most of these funds will go towards grants for projects in these areas, which are hoped will boost collaboration, turn ideas into products and integrate supply chains.

Energy sector workers

The government wants to bring down power prices and will work with private providers to do that. It’s also going to work with state governments through a $250 million program, which will reduce prices but also create over 4,000 jobs.

Energy and Emissions Reduction Minister Angus Taylor also released his Low Emissions Technology Statement which claimed it would create 130,000 jobs, but industry experts have called that claim into question.

Aged care workers

The Royal Commission into Aged Care released its six recommendations late last week, all of which have been agreed upon by the Minister for Aged Care, who has already pledged $40.6 million as part of its initial response.

The recommendations call for more funding for aged care providers; better access to additional health services; the creation of a ‘national aged care plan; and at least one trained infection control officer in every residential aged care home.

Domestic violence workers

There are 700 new safe places that will be created to help women and children escape domestic violence, with the Government confirming $60 million in funding.

Regional workers

$100 million has been dedicated to assisting parts of regional Australia that have been hit hard by bushfires and by the coronavirus.

Infrastructure workers will benefit from a further $30 million going to telecommunications projects outside of NBN fixed-line areas, and another $5.7 million will be spent on developing local leaders in regional Australia, such as councillors, volunteers, members of community organisations and industries.

Women

A $240.4 million package has been created to improve women’s workforce participation, improve salaries and improve financial independence.

$35.9 million has been dedicated to expand a women entrepreneur mentorship program, with $25.1 million set aside to help 500 women through STEM cadetships or apprenticeships.

Women in STEM and Entrepreneurship (WISE) grants have also been expanded.

What if I want to study?

If you want to go back to school, the government is creating 12,000 more undergraduate places in 2021.

If you’ve recently lost your job and want to up-skill, an extra 50,000 higher education short courses will be supported.

These courses include teaching, health, science, IT and agriculture.

What about JobSeeker and JobKeeper?

If you’re looking for employment and currently on JobSeeker, tough luck: Finance Minister Matthias Cormann has said the Government won’t reveal whether the Coronavirus Supplement will be continued until later in the year.

If you’re on JobKeeper, the subsidy has been extended until the end of March next year, but at lowered rates.