• Large section of workers largely unaffected

• Second boost: Workers to get $950 bonus

• Rates  hit record lows 

INTEREST rates have fallen to the lowest levels in more than 40 years in Australia , but that will make little difference to a large number of Australians who will cruise through the financial crisis.

More than 44,000 full-time jobs were lost in December alone, pushing Australia's unemployment rate to 4.5 per cent. That figure is tipped to rise steadily in coming months.

But for a section of workers who are experiencing falling petrol prices, hefty discounts in shops and living costs not rising as quickly as usual, they're wondering what all the fuss is about, says economist Craig James of CommSec.

"For Gen-Y type staff, they are just scratching their heads to work out how the global financial crisis is really impacting them," he says.

"If they're not paying off a home loan, if they haven't got substantial share market investments but they're in secure employment, then they're probably not seeing a great impact.

“If anything it's a positive."  

Young workers who fit into this category are in a position to come out better than before, Marinis Financial Group's Theo Marinis says.

"Pretty much anyone who can maintain their job and their income," he said.

Mr Marinis said a large percentage of the population were "blissfully unaware" of dire economic predictions for the year ahead.

"Most punters aren't really aware of what's going on, and maybe that's a good thing."

He says a boost to the first home owners grant and the Government's attempts to encourage spending mean more young people have an opportunity to enter the property market.

As part of the stimulus package unveiled late last year, the Federal Government will give you $14,000 to buy your first home and more than $20,000 if the house you're after is newly built.

And that's not including state government help. If you're in Victoria, you could be eligible for another $8000 depending on where and what kind of house you buy.

Mr Marinis says the gloom is never as bad as it's made out to be. Even if employment hits 12 per cent, it still means more than 80 per cent of the workforce is employed.

"It's the minority of the population that will get hurt."

A downturn meant less demand for goods and services, which means lower prices across the board.

"Everything is cheaper, if it's not cheaper, it's not going up as fast as it would have."

Mr James says the constant doom and gloom headlines had made people cut back spending, even if they didn't really need to.

"There not seeing any real impact causing them to cut back - they're being influenced by their environment."

"A lot of people are probably looking at the situation saying if this is what a recession looks like, then we should have more of them."