Plain sailing through the downturn
Plenty of Aussies are feeling right at home and aren’t been too badly affected by the global economic downturn, an expert claims.
Although the overall unemployment rate in the country is likely to continue to rise over the coming months, certain parts of society are being largely unaffected.
CommSec economist Craig James told news.com.au that certain workers are benefitting from all the price cuts and don’t really have any concerns about their situation.
“For Gen-Y type staff, they are just scratching their heads to work out how the global financial crisis is really impacting them,” Mr James told the news provider.
He added that people who aren’t fixed into paying off a home loan, or who don’t have anything invested in the stock market and who have a stable job are not going to be seeing any trouble with their finances at the moment.
Similar claims were made before Christmas when a study for ING Direct showed that Gen-Ys were fully intent on spending more over the festive period than they did the year before.