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700,000 people may need to be unemployed to crack this cost-of-living crisis, economists say

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The Australian economy is limping along, and many households are feeling the strain.

Bureau of Statistics figures show the Australian economy grew at 0.2 per cent in the three months to December.

It means, at least for the next few months, Australia avoids a technical recession — which is defined as two consecutive quarters of negative growth.

Deloitte Access Economics partner Stephen Smith says the newly released data shows that “while Australia is not in a recession, many Australians are in a recession”.

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