The big four banks have put out a distressing forecast with economists predicting a per-capita recession in the next year.

Some economists think that Australia will be able to dodge a recession this year thanks to the big influx of migrants we’re expecting. The extra workers and families will pay taxes and spend money, helping to keep our economy growing and helping Australia to avoid two quarters of negative GDP growth which is the definition of a recession.

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Australia is facing economic challenges as a result of the ongoing COVID-19 pandemic, but high migration numbers could potentially help the country avoid a recession. According to a recent report by 7NEWS, the influx of immigrants could provide a much-needed boost to the Australian economy.

The COVID-19 pandemic has taken a toll on the global economy, and Australia has not been exempt from its effects. The country has experienced a significant decrease in international tourism and a decline in consumer spending, leading to a contraction in economic growth. In addition, the closure of international borders has also had a negative impact on the Australian economy, as it has disrupted the flow of skilled workers and international students into the country.

However, the recent surge in migration numbers could potentially offset some of these economic challenges. Australia has seen a sharp rise in migration in recent months, with a significant increase in the number of skilled workers, international students, and permanent residents entering the country. This influx of new arrivals has the potential to inject much-needed spending into the economy, create employment opportunities, and stimulate economic growth.

One of the main reasons why high migration numbers could help Australia dodge a recession is the positive impact it can have on consumer spending. New arrivals to the country are likely to spend money on goods and services, which can help stimulate demand and support local businesses. In addition, skilled workers and international students can contribute to innovation and productivity, leading to a more competitive and dynamic economy.

Furthermore, the influx of new migrants can also help address labor shortages in key industries, such as healthcare, technology, and construction. This can lead to increased employment opportunities for both locals and new arrivals, and help drive economic growth in these sectors.

It is important to note that while high migration numbers have the potential to benefit the Australian economy, it is also critical for the government to effectively manage the integration of new arrivals to ensure a smooth transition and to address any potential social and economic challenges that may arise.

In conclusion, high migration numbers could play a crucial role in helping Australia avoid a recession. By contributing to consumer spending, addressing labor shortages, and stimulating economic growth, the influx of new migrants has the potential to provide a much-needed boost to the Australian economy. With careful planning and management, Australia could leverage this opportunity to support a strong and resilient economic recovery.