Original article by John Kehoe
The Australian Financial Review – Page: 9 : 24-Jun-20
Research from the Reserve Bank of Australia has found that most households had sufficient wealth at the onset of the coronavirus-induced recession to ride out a temporary fall in income. However, only about half of younger Australians had enough liquid assets such as savings to pay their expenses for three months. A similar percentage of workers in sectors that were hardest hit by coronavirus lockdown measures had limited capacity to meet their expenses at the start of the recession. The RBA research is based of the findings of the Household and Labour Dynamics in Australia survey in 2018.
RESERVE BANK OF AUSTRALIA