AS CONSUMER confidence surges by a reported 3.7 per cent and commentators suggest most people believe the worst of the economic downturn is over, we cannot lose sight of the fallout from the global financial crisis.
And according to most leading welfare groups, it's a fallout which will reverberate for some time. It is no idle warning. History has shown that the social costs of a recession come in waves, with unemployment following on from immediate business/finance downturn, which in turn leads to the third wave - of homelessness, poverty and associated child abuse, neglect and crime.
Those lucky enough to have held on to jobs, and who, should they be home owners, have also enjoyed extremely low interest rates or the first home-buyers grant (and lower house prices) may actually have gotten ahead during the recession. Certainly, there is a collective sigh of relief that they've made it through (although nerves are being tested over the Reserve Bank's position on interest rates).
But as economic indicators improve, Australia cannot afford to ignore the other, more sobering, implications of the past year.
Some 300,000 people have been on the Newstart Allowance for the past year and this figure is expected to at least double over the next few years.
For more, pick up a copy of today's Canberra Times
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