Australians are living through the longest period of ‘economic misery’ in over a decade.
Inflation and high interest rates have combined to stifle the working class since the pandemic, according to the Committee for Economic Development of Australia.
Australia’s misery index is now almost double the rate it was pre-Covid, but it is lower than peaks during the height of inflation in 2023 and also the global financial crisis in 2008.
Last week, Australia’s national unemployment rate remained steady in August at 4.2 per cent.
So, if you’re feeling down about the state of your—and the country’s—finances, you’re definitely not alone.
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