We are officially in a recession - how are you affected?

I can only hope that my rent will fall, as it's only been going up each time I renew the lease for the last 2yrs, and the 6 new houses being built in my section of town (first houses to be built in this town for the last 8yrs since the end of the mining boom) isn't a good sign in my eyes as the greedy real estate agents will take that as "markets improving" and artificially jack the rents up again (

The company that I work for made $300 million profit last year only $30 million this year so bonuses and pay increases which are in September will be next to nothing, also shares that are issued to employees have lost most of their value.

In a recession prices usually go down,  but now  across the board prices are increasing, we are all going to be poorer. 

My Mrs just got asked to go full time, the border lockdowns are impacting her workplace and they can’t find enough qualified labour to do all the work. I’d probably feel guilty for our good position but we spent a heap of years out west and up north working, saving, learning and bettering our prospects for our eventual return to our home region. But i look at some of our old dirtbag school class who never moved, never wanted to succeed, living a mundane yobbo life and then I don’t feel so bad.

Nah. No need to feel guilty. The moochers are living off your taxes. It's they who should feel guilty towards you.

We're better off financially than we would have been had the pandemic never happened. It's crappy. I feel slightly guilty that we've benefited when others are either disadvantaged or even at risk (or sick or dying!) because of something outside of their control. But then we didn't have control over the pandemic either so it's not like we caused others to be in the position that they're in anymore than they would be had the tables been turned.

The pandemic really has readjusted our thought process back to saving for a rainy day and not having debt. Previously we saved money but it was more for unexpected bills etc. Never more than a couple of thousand at a time. We've really put the gas on that and have started saving a lot more per fortnight than we did previously. We still live very comfortably but we're far more focused on providing for ourselves than we were. The pandemic and the recession that's been super-charged (and here's hoping not devolving into a depression but at this rate I would NOT be surprised) has really provided the impetus for us to become far more fiscally responsible, and to actually go out and gain a better financial education.

Our food preps have definitely increased. Our equipment preps have also increased although we're currently a bit restricted by space. My other half is definitely on board with prepping far more now and that's been a huge advantage as well. It's no longer just me grabbing a few extra things with the shop, and I'm not the only one saying things like 'there's a chance to grab xyz while everyone's calmed down, maybe we should buy a case?'. 

I think for us the recession will ultimately be touch and go depending on whether or not it continues into a depression. We have the ability to weather the tide on the basis of our employment and we're fortunately in very stable jobs. But we're assuming and preparing for the worst. Saving as much money as possible so that we can buy a house with as little debt as possible is our focus now because who knows what the future brings with a full blown depression?

Thats exactly my situation.

Jobseeker has artificially inflated the unemployment figures. In places where cafes are allowed to open, owners have been having trouble getting casual employees to come in. Much easier to sit at home and collect welfare than go to work. None of the awkward centrelink questions now either.

Your mates daughter is an excellent capitalist citizen. Making exactly the right economic decision.

This is cutting both ways.

I'm aware of several businesses in my region who take government (ie Taxpayer funded) wage subsidies and channel them into fat income boosts for the owners. They are re-injecting that money into the economy by buying imported luxury items. 

Three cheers for corporate socialism. The socialism that is always called by another name (Stimulus/Quantative easing/Rebate Scheme/tax minimisation) and lauded as being vital for economic prosperity.

I work for a large multinational. They sent us the jobkeeper form to fill out so they could get the money from the government. A quiet "fark off" was uttered and that email went straight to delete.
Work in my industry is bursting at the seams. 30 years ago it was all Australian owned, now it is mostly foreign owned. Jobkeeper makes zero difference to whether or not we keep working.
The money would have gone straight into the foreign owner's pockets.