Yahoo Finance Surprise stat costing Aussie economy $10bn
Australian workers living with long Covid cost the economy nearly $10 billion during the height of the pandemic in 2022, new research has revealed.
Research published in the Medical Journal of Australia found there had been about 100 million lost labour hours by those workers experiencing the effects of long Covid in 2022.
Researchers found there were up to 1.3 million Australians estimated to be living with long Covid, including about 55,000 children aged four or under, in September 2022.
They calculated how many of the 5,185 Australian working adults in the study had ongoing COVID-19 symptoms lasting up to three to 12 months, as well as those who never recovered from their illness and its lasting impact on the economy.
It was estimated that, on average, there was about $9.6 billion lost economy-wide in 2022, or the equivalent of one-quarter of Australia’s real gross domestic product growth that year.
“Workers experiencing ongoing COVID-19 symptoms months after their initial diagnosis resulted in, on average, about 100 million lost labour hours in 2022,” ANU Professor Quentin Grafton said.
“This is equivalent to an average loss of eight hours per employed person, per year, including both full-time and part-time employment.
“This does not account for losses such as healthy employees who can’t work because they’re caring for others with long Covid.”
The research led the case that governments and policy makers needed to place a greater emphasis on long Covid as a public health priority.
“Widespread COVID-19 infection means that even a small percentage of chronic Covid-related illness and disability will impact population health, especially working adults,” senior author and UNSW Professor Raina MacIntyre said.
“Long Covid is likely to be up there among the leading causes of burden of disease.
“It’s time we considered long Covid in policy decisions, which currently makes it difficult for younger, healthy people to access boosters or antivirals.
“Widening access will have a better impact on long Covid, as the greatest burden is on working-age adults.
“Other strategies to reduce Covid and thereby long Covid should focus on attention to indoor air quality with improved ventilation.”
The study also found that workers with long Covid aged 30 to 49 are the people most impacting the economy.
“Workers in that age bracket contributed to a loss of 52 million worked hours, or more than 50 per cent of the total labour and productivity lost in 2022,” University of Melbourne Professor Tom Kompas said.
Researchers estimated that by December 2024, there are likely to be between 173,000 and 873,000 Australians still living with long Covid 12 months after they were first infected.
Professor Kompas said there was urgent need for long lasting support for those impacted by long Covid, as well as helping those who are caring for others.
“We need an enhanced health system capacity to treat long Covid and for social structures to support sufferers and manage their illness,” Professor Kompas said.
“This would improve the quality of life and possibly also the rate at which individuals can return to the workforce.
“Financial assistance for long Covid patients, at least for those unable to work because of their symptoms, such as access to a disability pension, would reduce their economic burden.
