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302 recessions, depressions, causes, protections
Dev Raga Personal Finance
The Great Recession in Australia
During the 82-83 period, unemployment peaked at 10.5% and inflation was sky high. Number three is the great 9192, the famous Paul Keating, the recession we had to have. Australia came out of this relatively unscathed because of China,. The mining boom, the macroeconomic stimulus policy. In 2020, mandatory lockdowns meant economic activity simply grinded to a halt. And in June quarter, 2020, Australian GDP retracted by 7%. Unemployment peaked at 7.5% in 2020. So those are the five sort of recent history recessions that Australia has had in the last sort of 40-odd years.
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