OVER A CLIFF: The Coffs Harbour economy is in for trouble when JobKeeper is wound back in September.
OVER A CLIFF: The Coffs Harbour economy is in for trouble when JobKeeper is wound back in September.

REVEALED: Number of locals reliant on JobKeeper

The numbers of locals reliant on JobKeeper have been revealed as part of an inquiry into the impacts of COVID-19.

Almost 7,000 workers in the Coffs Harbour postcode alone are reliant on the payment and 1,783 businesses. Fortnightly payments total $10,162,500.

The figures show just how many people will be in real trouble when the payment is wound back.

The Federal Government's $70 billion JobKeeper scheme is due to end in September.

It's still unclear what measures will be put in place when this happens but experts have warned that scrapping it too early risks sending the Australian economy falling off a cliff into recession.

In April 2020, the Senate established a Select Committee on COVID-19 to inquire into the Australian Government's response to the pandemic.

Treasury figures submitted as part of the inquiry break down the number of individuals and businesses on the payment by postcode and also the fortnightly cost of the payments.

The figures are outlined in the table below:

The numbers of workers and businesses on JobKeeper in the region by postcode.
The numbers of workers and businesses on JobKeeper in the region by postcode.

Labor Senator for NSW Tim Ayres says the data shows that cutting JobKeeper payments too early could have devastating consequences for workers, businesses and communities in the Mid-North Coast.

"The Morrison government is still planning to withdraw this payment at the end of September, leaving thousands of Coffs Coast jobs at risk," Mr Ayres said.

"The people of the Mid-North Coast desperately need an effective, well executed response to this crisis, to bolster the recovery and set Australia up for the future."

Business NSW Regional Manager, Mid North Coast, Kellon Beard also has serious concerns for the future.

A recent survey of over 1000 businesses across NSW show that JobKeeper has been crucial to keeping businesses afloat with three out of four (74 per cent) of businesses saying staff are much better off because of it.

"Business NSW has been saying for some time that September was going to be the month where the true impacts of the epidemic hit home with JobKeeper set to end and a number of deferral measures the banks initiated at the start of the pandemic also due to expire," Mr Beard said.

Federal Finance Minister Mathias Cormann has stated JobKeeper won't continue past September, saying whatever income support the federal government extends into October will not be a "replication" of what came before.