How Aussies have entered the new year $30,000 poorer – but one group is set to be better off

Ordinary Aussies have entered the new year up to $30,000 poorer due to a rampant cost-of-living crisis.

But the Albanian government today announced a new package to ease pressure on one group of people: new 'priority' apprentices and trainees.

People entering the workforce in a select number of 19 industries may be eligible to receive an additional $10,000 during the duration of their internship, in an effort to increase the number of workers in critical industries.

Ambulance staff, furniture makers, pharmacy technicians and nursing support staff are the big winners of the effort, announced by Minister for Skills and Training Brendan O'Connor.

In addition to the apprenticeship payment, employers can receive an additional $15,000 over the life of the apprenticeship.

Ambulance staff, furniture makers, pharmacy technicians and nursing support staff are the big winners of the effort, announced by Minister for Skills and Training Brendan O'Connor

Mr O'Connor said he hopes the cash stimulus will help “develop the skilled workforce our economy needs in priority areas, now and in the future.”

“The occupations on the list are based on hard evidence from public and private data analyzed by Jobs and Skills Australia,” he said.

“The work of Jobs and Skills Australia is critical to identifying what skills are needed today and what skills will be needed to future-proof Australia.”

Loan comparison service RateCity revealed the average mortgage interest cost has risen to $69,700 in 2023, up from just under $42,000 in 2022, based on a $1.12 million loan – 80 per cent of the 2022 average Sydney house price of $1.4 million.

RateCity research director Sally Tindall told us Daily telegram 'Every walk is not the same as a one-off parking fine, a broken hot water boiler or even the annual renewal of the rego.

“It's an additional expense that people have to pay, month after month, after month.”

It's becoming increasingly difficult to find a rental property in Australia (a line to view an apartment in Bondi is pictured), as interest rates rise and homeowners charge more

In addition to the rate increases, electricity costs have skyrocketed, as have grocery bills and gas prices.

Some relief will come in 2024 with the third phase of tax cuts.

And the government's latest announcement to expand the Australian Apprenticeship Priority List is a move that Prime Minister Anthony Albanese hopes will further ease the pressure.

In a statement, a department spokesperson said: 'These payments are designed to encourage apprentices and trainees to continue work in areas where skills shortages exist, complete their training and have successful long-term careers.'

In addition, a range of fortnightly Centrelink payments – including Youth Allowance, Austudy, Abstudy, Disability Support Pension and Carer Allowance – will increase as part of an annual indexation adjustment benefiting 936,000 Australians.

These recipients are getting a big boost, above the latest inflation rate, as the Reserve Bank's inflation-busting rate hikes hit middle-aged home borrowers struggling with higher mortgage repayments.

The youth allowance for teenagers under the age of 18 living at home will increase by $22.40 to $395.30 per fortnight – in line with the Abstudy rate for young people of the same age.

Those living and studying away from home, aged 18 to 24, will see their Youth Allowance or Austudy payment increase by $36.20 to $639.

The youth allowance covers those aged between 16 and 21 who are looking for full-time work, those aged between 18 and 24 who are studying full-time and those aged between 16 and 24 who are undertaking an internship.

Australians are feeling the pressure now more than ever. The Prime Minister helped serve a free Christmas lunch on December 25

The Carer Allowance will increase by $8.70 every two weeks to $153.50, while student nurses will be eligible for an additional payment

The disability pension for people living at home under the age of 18 will increase by $31.10 to $548.80.

Those aged 18 to 20 will get a boost of $34.50, bringing it to $608.70.

Australians with disabilities who live independently will see their benefits increase by $44.90 every fortnight to $792.50.

The informal caregiver allowance will increase by $8.70 every two weeks to $153.50.

The 6 percent increase is more generous than recent inflation figures, with September quarter inflation at 5.4 percent and October quarter inflation at 4.9 percent.

Social Services Minister Amanda Rishworth praised the six per cent welfare boost that will help 936,000 people.

“Australia's social security system is a safety net that is continually being strengthened and improved to support all vulnerable Australians,” she said.

'Through regular indexation, our benefits are adjusted to changes in the cost of living in order to maintain their purchasing power.'