Unemployment Projected to Rise

short term loans

The continuing interest rate squeeze and falling share markets, are expected to slice consumer spending habits, which in turn will slow the economy and force an extra 75,000 Australians into unemployment by the middle of next year.

While there has been a small concession for Australian households last week with the Reserve Bank’s first rate cut in 7 years, we are not out of the dark yet it seems. David Uren, the Economics correspondent for The Australian cautions the “Treasury expects the unemployment rate to rise from its recent historic low of 4 per cent to reach 4.75 per cent by the middle of next year.”

Rising Australian Debt

The proliferation of household debt is then predicted to soar to new heights, with more and more Australians failing to make ends meet.

As the Treasuries economic outlook stated recently, “In the current circumstances, where interest rates have risen considerably over a long period of time, there has been an increase in the number of individuals experiencing financial stress”.

If you are suffering from household debt Australian Lending Centre can help. ALC offers a comprehensive range of services which cater from Debt Consolidation and Refinancing, to Debt Management Solutions. Don’t hesitate; call us now on 1300 138 188.

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

jobseeker changes
News
Jack Richings

Jobseeker Changes Incoming…

The Government brought in financial incentives to help Australians through the COVID-19 crisis. However, from 25th September, jobseeker changes are coming in…

Read More
personal loans with no credit check
No Credit Check Loans
Jack Richings

Personal Loans With No Credit Check

Personal loans are a great cash injection. Do you want a quick & easy option with no impact on your credit score? Consider personal loans with no credit check.

Read More
Australian Economy 2020
News
Jack Richings

Australian Economy 2020

Bush fires, drought, flooding & the Covid pandemic have made 2020 a year to never be forgotten. But how has this affected the Australian Economy 2020? Find out.

Read More
what is debt management
Debt Management
Diane Challis

What Is Debt Management?

Ultimate Debt Management Guide – We discuss the difference between good vs bad debt & give tips on how to escape debt. Find out what is debt management here…

Read More