The Impact of the global financial crisis on social services in Australia
Anglicare Australia, Catholic Social Services Australia, the Salvation Army and UnitingCare Australia have commissioned Access Economics to identify likely impacts in a discussion paper – which will be presented at the summit.
The group of major church providers predicts the current global financial crisis will have an acute impact on the most disadvantaged members of society, as well as pushing increased numbers of low and middle income earners to seek the services of already stretched welfare agencies.
With unemployment expected to reach up to 5.4 per cent next year, the services most immediately affected by the deteriorating economic conditions include: employment, housing, financial and general counselling and emergency relief.
Low-income households and Australia’s disadvantaged will be directly impacted by slowing economic growth as rising unemployment together with continued pressure on housing costs, and the cost of living more generally, increase the incidence of financial and social stress.
In discussing the financial crisis and Australia’s economic outlook, the paper provides forecasts for key economic variables and focuses on the resulting pressures faced by low-income households.
Impact of the global financial crisis on social services in Australia
