Savings Account News

Jobs decrease by 6%, young workers most affected by coronavirus fallout

People under 20 have been hit hardest by COVID-19 closures, with jobs for the age group decreasing by almost 10% in three weeks.

By Alex Brewster ● April 21, 2020

One third of Australians see incomes fall due to coronavirus

New research has revealed 33% of Australians have been negatively financially impacted since the start of the COVID-19 pandemic.

By Alex Brewster ● April 20, 2020

Grattan Institute estimates 3.4 million Australians could be out of work in coming weeks

Nearly a quarter of working Australians could be out of work in the coming weeks thanks to social distancing requirements to contain the spread of coronavirus.

By Emma Duffy ● April 20, 2020

How this Australian couple is saving during COVID-19

COVID-19 has shaken our worlds up in ways we could scarcely imagine just a few months ago, and for many people, their finances have taken a serious hit.

By William Jolly ● April 17, 2020

Australia's unemployment rate edges up in March

Australia's unemployment rate marginally increased in March to 5.2%, from 5.1% in February, seasonally adjusted.

By Alex Brewster ● April 16, 2020

Why is the underemployment rate important in the coronavirus era?

Unemployment is a key statistic of the health of the economy, but in the COVID-19 era, underemployment is arguably just as important.

By Alex Brewster ● April 15, 2020

ANZ & NAB join savings account rate cut conga line

Major banks ANZ and NAB have cut various savings account interest rates by 25 basis points, effective today.

By William Jolly ● April 14, 2020

Treasury tips unemployment to hit 10%, recession all but confirmed

Treasurer Josh Frydenberg said unemployment is expected to rise to 10% in the June quarter due to the coronavirus outbreak.

By Alex Brewster ● April 14, 2020

86 400 to cut savings account rate, ING to waive bonus rate criteria

Another smaller bank is cutting savings account interest rates, while a larger one is making it easier to earn interest during the COVID-19 pandemic.

By William Jolly ● April 09, 2020

AMP cuts introductory interest rate barely a week after raising it

AMP has rolled back the interest rate on its once market-leading introductory savings account, barely a week after increasing it by more than 50 basis points.

By William Jolly ● April 08, 2020

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