Sky News host Paul Murray says the average Australian is in a recession following multiple negative quarters of economic growth.
“If you have negative growth for a quarter it worries people, if it happens for two it’s a recession,” he said.
Mr Murray says Australia has experience three quarters of negative economic growth.
“Which means the average Australian is in a recession.
“But because we export a lot of stuff to the rest of the world we’re just staying in positive territory.”…(read more)
BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
The Average Australian is in a Recession: Paul Murray
As the world continues to grapple with the economic impact of the COVID-19 pandemic, there is growing concern about the financial well-being of the average Australian. According to prominent Australian journalist and broadcaster, Paul Murray, the average Australian is currently in a recession, despite the official declarations from government bodies.
In a recent interview, Murray pointed out that while the Australian economy may not be officially in a recession, the reality on the ground tells a different story. With rising unemployment rates, stagnant wage growth, and an increased cost of living, many Australians are feeling the pinch of a struggling economy.
Unemployment is a major concern, with many industries being hit hard by the pandemic. The service, hospitality, and tourism sectors have experienced significant job losses, leaving many Australians without a source of income. This has not only caused financial stress for individuals and families, but also a sense of uncertainty about the future.
Wage growth has also been stagnant in recent years, leading to a decrease in purchasing power for the average Australian. As the cost of living continues to rise, many are finding it difficult to make ends meet and maintain their standard of living.
According to Murray, the government’s response to the economic downturn has not been sufficient to alleviate the financial strain on the average Australian. While stimulus packages and support measures have been implemented, there are concerns about their effectiveness in providing long-term relief.
In addition, Murray highlighted the impact of housing affordability on the average Australian. The rising cost of housing, coupled with the difficulty of securing a mortgage, has made it increasingly challenging for many Australians to achieve home ownership. This has further contributed to the financial strain experienced by the average Australian.
Murray’s assessment of the economic situation in Australia has sparked a conversation about the need for more comprehensive solutions to support the average Australian during these challenging times. He has called for a re-evaluation of government policies and a greater focus on addressing the systemic issues that are contributing to the economic hardship faced by many.
As the world continues to navigate the uncertainties caused by the COVID-19 pandemic, the economic well-being of the average Australian remains a pressing concern. With rising unemployment, stagnant wage growth, and an increased cost of living, it is clear that many Australians are feeling the impact of a struggling economy. By acknowledging the situation and working towards sustainable solutions, there is hope for a brighter economic future for all Australians.
Ah, but just look at the 'workforce participation' in Australia, everyone has at least one job! Even children! Even the homeless! We have the hardest working homeless population in the world! Our homeless, they wake up, they wash their faces in the river or creek, they fold up their tents and they get back to their workplace for another 12-hour shift! How good is that?
SORRY NO CHINESE MONEY VERY VERY SORRY
We are in recession
Caused by previous government policies and printing more money from thin air
You should ask the previous government
Taking away the 1500 dollars at tax time typifies the warped priorities of this Labour government. They much prefer to be on the world stage posing as philanthropists, whilst the average person’s standard of living in this country has plummeted.
Someone needs to let Mr Chalmers know that when you owe money there is no such thing as a surplus.
positive presentation is kind of the go to for every government, doesn't work, but still part of the go to… the descending interest rates for the last decade to prop up the economy all the way down to 0.1% and it's still funny that it's Labor's fault… can Australia just not get its head out of its ass, for like, 1 second… i really wonder how the coalition and by extension sky news support would've portrayed the dying economy that they would've been partly responsible for, partly, because of covid of course, but covid just kicked the can down the road, we were headed for a natural recession in 2020-2021, not meant to be…
Morrison sowed the seeds of this recession by his crazy anti China policies
lol im not..im doing better now than when we were in recession in late 80s early 90s…i hope the rates keep rising
HOW IS DE COUPLING FROM CHINA WORKING OUT FOR YOU MATE?
Six and out albo. Why is this government so good at being antisocial? Grim Jim needs a severe wake up call. That won't happen. And a pay raise to boot! WTF! I thought pallet jack was bad but these three are the Pinnacle of Idiocracy.
Treasurer of PR & BS with a fresh set of A4's form the taxpayer funded script writers headquarters at the "Beta Tribe" socialism club…
Yes we need to square up the economy after the mess the Liberals left us. Little room for Govt to move or help ordinary people. There's no business case for the Liberals.
Out family stopped spending on anything other than essentials 6 months ago and we don't even have a high mortgage debt to worry about. The economy is going to tank. Saw this coming from years back when the Liberals were spending like drunken sailors during Covid times. A recession was inevitable because they were kicking inflation into high gear. Then the idiots at the Reserve Bank have over-reacted with too many rate rises.
Of course we are. The R word is so politically damaging, the real situation is glossed over to the general public. Heaven help us if the misinformation bill is passed!
Im so sick of seeing members from this Labor government while talking, trying to keep a straight face struggling not to laugh
See how Labor dont really care if everyone/everything goes to shit as they still get their exorbitally high salary and pension benefits.
Yeah, worst Government since I've been voting and I'm Gen X
0.2 percent is keeping us just above water right ? That's like drowning and still trying to breathe out the top of the hair on your head.
Bullshit…Jim Chalmers…what deficit…what surplus???
National debt is 30000 dollars each so far…including kids…if I ran my budget like they do, I would be naked and homeless!!!!
Some of us are below average Aussies and we're in deep shit.
Labour pretty much want you to spend money like your poor to reduce inflation. But the only way they can do that is by making you poor. Unfortunately, this has no impact on the rich.
No one to blame but the people who sold out for an extra $1 p/h
You really know when your government is lying to you. It’s when you smell something nasty and they won’t look you in the eye. I’m smelling something really nasty
Seriously people. Labor needs to go.
Vegemite is more expensive in Thailand.
There are always losers and winners.
Losers – renters, just bought property and pay high interest.
Winners – property owners with low debts.
The fact that inflation is high is because there are a lot of winners vs losers.
The winners are spending too much ……..
The high int rate is to “ persuade “ everyone to spend less ….
No depression
You disgusting piece of shit Chalmers. You take $1500 out of millions of peoples pay packet this year at tax time and you have the gall to say you have a surplus. You have a surplus because of record high resources pricing and that $1500 from those millions of Australians. It's got nothing to do with good management on your part. You're welcome you fuckin grubby little prick. How do these people sleep at night with the lies they tell Australian people. Lie after lie after lie. It's disgusting.