Suburb With 27% Jobless Shows Danger of Australian Recession
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In a shopping center full of sale signs in Broadmeadows, a Melbourne suburb with 27 percent unemployment, Soney Kul is struggling to shift half-price jewelry.
“People don’t want to spend,” the 27-year-old said, gesturing at the sparsely-filled display cases in his family-owned store, Altinbas. “They’re too scared to spend because they don’t know what the next day will hold.”