Impact & Outcomes
Although unemployment in Australia has stabilised due to improvements in the job market, long term joblessness continues to increase. The number of long term unemployed has increased 37% since the peak of the Global Financial Crisis, and today over 345,000 Australians have been receiving unemployment benefits for over a year. Many of these individuals want to work, however have become discouraged after years of unsuccessful searching.
Unemployment has significant social and economic costs that reach beyond material deprivation to issues of mental health, crime, poverty and family breakdown. Unemployment creates a burden on expenditure for benefits such as healthcare, rent assistance and job-seeker allowance and has costs associated with lost wages, lost tax payments and reduced contribution to the local economy.
Since Fair Business started operating we have created over 100 jobs and 70% of our employees were previously out of work for one year or more. In this way we are making a significant contribution to addressing the real and pressing challenges of unemployment in Australia.
A recent study by Social Ventures Australia on one of our businesses, Fair Repairs, identified that for every $1 invested, over $4.60 worth of social value was created. Interviews with stakeholders have identified that the main outcomes for Fair Repairs employees are increased confidence, regular income, a feeling of belonging, access to a support network, opportunities to develop skills and undergo training, improved quality of life for their families, greater hopes for the future and greater contribution to the local economy and community.
Here is what some of our employees have to say:
"I was depressed and didn't have much hope for the future when I met Fair Repairs. I wanted to lock myself away. But now I feel like I have my purpose in life back. My health has improved. I am getting on top of things."
"Fair Repairs has given me direction and stabilized my life."
"Fair Business has given me opportunities to go further - I have options now. I had none 6 months ago."