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Boom in Australia Ends Shocking Postwar Era
Sydney reports Australia’s postwar boom ending with recession fears and rising unemployment. Despite overall prosperity, wage gains lag as overtime declines and part time jobs disappear, while imports and foreign money flow shrink. Government crisis and wool price slump compound economic strain. The 1951 52 year saw a large trade deficit as living costs rise and wages adjust.
MENTIONED IN THIS ARTICLE
Robert G. Menzies
House of Representatives Uantil
Australia
U.S
Sydney