Australia avoids recession but unemployment will rise
Unemployment will continue to rise, despite figures suggesting Australia has avoided a recession, says Federal Finance Minister Lindsay Tanner.
Recent data has suggested the Australian economy grew by 0.4 percent in the first three months of the year, however Mr Tanner said there was still the possibility that unemployment would rise.
The government have not revised their forecasts for unemployment and still expects unemployment will rise to as much as 8.5 percent by mid 2010, up from the current level of 5.4 percent.
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This is sad news.Wonder when recession will be over in it’s tue sense and normalcy will return.
Incidentally there is an interesting website that is specifically dedicated to recession victims.It offers help and discusses all issues related to recession- http://www.angstcorner.com. It’s worth a visit!