A new report confirms what many jobseekers already know: Australia's privatised employment services system is a $5.5 billion cash cow for private equity and millionaires, doing little to actually get people into work.
The CICTAR investigation shows for-profit providers like APM and atWork, both controlled by private equity, extract massive profits through dividends, tax havens, and opaque shell structures, while the public gets stuck with a broken, compulsory system.
The report recommends returning services to the public sector, banning political donations by contractors, and unified procurement rules across all government services.
Labor's 'biggest shake-up in 30 years' keeps the same for-profit model. That's not reform; it's a rebrand.
#auspol #jobseeker
https://www.abc.net.au/news/2026-07-21/private-equity-profits-as-job-system-fails-workers-report-finds/106920430
https://www.fusionparty.org.au/ethical_governance
