The impacts of recessions on families.

The article discusses the implications of global financial crisis on several families in Australia. It emphasizes on the negative effects of the increased unemployment towards families in the country and highlights several mechanisms in which a recession may affect families. It also provides an overview on the research and surveys related to the short- and longer term effects of economic recessions. It further suggests that to minimize the loss of jobs and to maintain workers' connections with labor market can help reduce the negative effects of recession on families.