Australian workers not saving enough to handle a job loss

Original article by Killian Plastow
The New Daily – Page: Online : 11-Jul-19

Research by Finder shows that 5.9 million Australian workers have insufficient savings to support themselves for more than a month if they lost their job. The survey also found that 2.1 million Australians would be unable to financially support themselves for more than a week. Separate research by Roy Morgan shows that Australians have an average of six months’ worth of savings, although the median is about 0.8 months, or 24 days. CEO Michele Levine says people on low incomes would be hardest hit by a sudden job loss, as they are less likely to have savings.

CORPORATES
FINDER.COM.AU, ROY MORGAN LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s