ABS: One-third of households financially worse off by COVID-19

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From The ABS:

“One third of Australians (31 per cent) reported that their household finances had worsened over this period, while one in seven (14 per cent) reported an improvement,” said Michelle Marquardt, ABS Program Manager for Household Surveys.

While the majority of Australians (81 per cent) said their household could raise $2,000 for something important within a week, lower than the 84 per cent reported in the 2014 General Social Survey, a small number of Australians reported experiencing financial hardship.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.