In an open letter to the prime minister, the economists said the $386-per-week rate of Jobseeker welfare support was "inadequate" and failing to increase it would "entrench disadvantage in the community".
Rich Insight economist Chris Richardson, Impact Economics and Policy lead economists Angela Jackson and independent economist Saul Eslake were among the signatories.
Last week, the Economic Inclusion Advisory Committee - stood up in 2022 to provide independent advice to government before every budget on economic inclusion and tackling disadvantage - recommended boosting jobseeker payments to 90 per cent of the age pension.
The government defended its record on supporting the most vulnerable and boosting their inclusion in society but said it "can't fund every good idea".
The economists said lifting working-age payments was the best was to provide cost-of-living relief to people who need it most and was more targeted than tax cuts.
"We estimate that lifting payments to 90 per cent of the pension would cost $4.6 billion per annum, which is a quarter of the cost of the stage three tax cuts."
With just two weeks to go before the federal budget, Treasurer Jim Chalmers has been outlining upcoming changes to foreign investment laws.
Rising geopolitical tensions, the race to net zero, fragmenting markets, shifting demographics and supply chain shocks are the new normal, Dr Chalmers will say during an address to the Lowy Institute.
"We are now in a new phase in the global economy, one just only becoming evident," Dr Chalmers will say, two weeks before he delivers his third budget.
Jim Chalmers will reveal industry incentives and support streams under the Made in Australia Act. (Lukas Coch/AAP PHOTOS)
Stronger, streamlined and more transparent foreign investment rules are needed in response, starting with more resources for screening riskier ventures, such as critical minerals investments or those near defence force sites.
Fast tracking will be opened up to investors already known to the country and those that "don't raise any sensitivities".
In Australia foreign investment proposals are screened case by case to ensure they align with the national interest.
Adjustments to foreign investment settings as well as the government's Future Made in Australia industrial policy reforms will make Australia a "more attractive place to invest", the treasurer will say.
"While we have a strong track record in attracting investment into Australia, we cannot be complacent," he will say.
Dr Chalmers will use the opportunity to reveal two separate streams of industry incentives and support under the Made in Australia Act - one for the net zero transformation and a second for the "national interest".
The latter will kick in "where domestic sovereign capability is necessary to protect our national security interests" or to "ensure our economy is sufficiently resilient to shocks".
3°C