Business
Retail jobs under pressure as federal government winds back JobKeeper support – The New Daily
Australia’s retail sector is taking a hit from two sides as reduced JobKeeper payments increase employee costs and reduce customers’ spending power.
Australias retail sector is taking a hit from two sides as reduced JobKeeper payments increase employee costs and reduce the spending power of customers.
The industry has remained strong throughout the coronavirus pandemic, but new figures show consumer spending has been underpinned by federal government support.
As payments reduce, economists warn the retail sector, which employs almost 10 per cent of the workforce, will likely see an increase in job losses as consumers shut their wallets.
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