Australia’s GDP figures may have helped it’s economy sneak into a recession, but they don’t tell the full story, and neither does the official unemployment rate.
A collapse in work hours is how many Australians are feeling the pain.
Some economists are warning that the recession could become a depression if the Government withdraws it’s economic stimulus.
Read more here:
NSW economy suffers biggest fall in 20 years but coronavirus impact yet to be seen, Premier warns – https://www.abc.net.au/news/2020-06-04/nsw-economy-suffers-but-coronavirus-effects-not-yet-seen/12317346
Coronavirus recession leaves 1.4m Australians in mortgage stress, almost 100,000 could default after JobKeeper ends – https://www.abc.net.au/news/2020-06-04/covid-recession-mortgage-stress-default-home-loans-jobkeeper/12318274?section=business
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