Australians fear recession
Nearly half of all Australian employees believe they would lose their jobs if Australia plunged into a recession, according to a survey by Talent2, a human resources recruitment company.
John Banks of Talent2 said that the last recession was on people’s minds. “Over half of the respondents were in the workforce during the last major recession in Australia during the early 1990s, so it is understandable that the prospect of a repeat of those difficult times is unnerving employees,” he said.
The survey found 44.5 per cent of respondents believe their employers would lay off staff in a recession, 45.2 per cent thought their employers could guide their company through tough economic times, almost 25 per cent said their employers would fail while 30 per cent are unsure.
“It is important to remember that sectoral downturns are not the same as a full-blown recession and the jury still seems to be out on whether Australia is heading this way,” said Banks.
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