Economics
Huge Australian Household Debt Threatens to Worsen Recession
- Economy heading ‘into greatest job destruction period ever’
- Joins high-debters like Denmark, Canada, U.K. in job subsidies
This article is for subscribers only.
For a fresh perspective on the stories that matter for Australian business and politics, sign up for our new weekly newsletter.
Thuy Pham has run two jobs for much of her working life, and a little over two years ago all that effort paid off when she realized a dream of buying her own home. As the coronavirus shutdowns have deepened, that’s started to unravel: first she was stood down from one job, then the other, and now she’s registering for welfare to help meet mortgage payments.