Credit: The Conversation
The economy has seen significant changes since the onset of COVID, making it challenging to interpret the financial landscape accurately.
Many of the economic improvements experienced by Australians in 2020 and 2021 were temporary and unsustainable. Programs like the doubled JobSeeker and JobKeeper artificially boosted incomes.
As these temporary measures are phased out, the economic gains are also diminishing, creating a blur between real progress and temporary relief.
In a recent study published in the ANU Centre for Social Policy Research journal POLIS@ANU, we aimed to identify which households are likely to see financial improvements or setbacks five years after COVID, comparing 2024 to 2019.
We analyzed income changes while considering adjustments for living cost fluctuations. This approach ensures that if a household’s income rises by 20% but living expenses also increase by 20%, their financial well-being is deemed unchanged.
2024-06-09 20:00:02
Source from phys.org