Business News

Recessions scar young people their entire lives, even into retirement

Written by Jenny Chesters, Senior Lecturer/ Research Fellow, University of Melbourne

Shutterstock

It is well-established that recessions hit young people the hardest.

We saw it in our early 1980s recession, our early 1990s recession, and in the one we are now entering.

The latest payroll data shows that for most age groups, employment fell 5% to 6% between mid-March and May. For workers in their 20s, it fell 10.7%

The most dramatic...

Australia is betting on a new ‘strategic reserve’ to loosen China’s grip on critical minerals
MirageC/GettyThe federal government has unveiled new details of its plan to create a A$1.2 billion critical mineral reserve. …
Do Woolworths shoppers want Google AI adding items to buy? We’ll soon find out
Woolworths has announced a partnership with Google to incorporate agentic artificial intelligence into its “Olive&rdquo…
After decades of decline, this is how unions can rebuild their role in Australian work
As recently as the early 1990s, 40% of Australian workers were union members. While there was a slight increase in 2024 &ndas…
The World Trade Organization is on life support. Will Trump’s new rules finish it off?
Chip Somodevilla/Getty ImagesThe United States has now withdrawn from 66 international organisations, conventions and treatie…
Why Iran can’t afford to shut down the internet forever – even if the world doesn’t act
As citizens around the world prepared to welcome the new year, Iranians began taking to the streets to protest their country…
Why the world’s central bankers had to speak up against Trump’s attacks on the Fed
Central bankers from around the world have issued a joint statement of support for US Federal Reserve Chair Jerome Powell, as…

Traditions of Rural Bali at Villa Sabana
A Privileged Insight into the Traditions of Rural Bali at Villa Sabana Situated in the traditional village of Pererenan near Canggu, Villa Sabana is peacefully secluded in a semi-rural setting where…

Essential Reasons to Opt for a Professional Valuation Before Selling Your Commercial Property
In the dynamic world of real estate, commercial properties hold a pivotal position. They represent not only a significant financial asset but also a crucial business investment. When contemplating the…

Labor says its second term will be about productivity reform. These ideas could help shift the dial
Summit Art Creations/ShutterstockIn his victory speech, Prime Minister Anthony Albanese highlighted social policy as a major factor in Labor’s electoral success, particularly Medicare, housing and cost of living relief. He…
What Companies Should All Business Owners Have on Speed Dial?
As a business owner, it's crucial to keep your business in good shape at all times. To do this, you ought to make sure that your business is in great…
Space Tank Studio
Space Tank Call-out for 50 talented Melbourne makers Space Tank Studio is putting a call-out for 50 exciting, kick-ass Melbourne makers to be fostered in their new 9 month…

Australian retailers are turning to artificial intelligence to simplify and automate returns and exchanges, while strengthening loyalty programs a...

I’ve been in customer service for years now. As my team has grown, the number one piece of advice I give is to be your...

Richard Valente, VP of Customer Experience Strategy at TP in Australia, explores how IT-BPM outsourcing is revolutionising the travel sector throu...

Online shoppers with HealthPost’s Flora & Fauna have made 11,000 contributions towards climate and biodiversity projects when ordering parcel ...

Aussie SMEs warn RBA not to ignore global trends, with the current sledgehammer approach threatening business viability and increasing inflation ...

Thryv® (NASDAQ: THRY), Australia’s provider of the leading small business marketing and sales software platform, has been awarded the Employer of ...