BACKGROUND COLOUR

COVID-19 recession strips $47 billion from economy

By October 2020, people were most optimistic they would hold onto their job, although the impact of the COVID-19 recession was affecting the average working hours of men more than women. Around 1.3 billion work hours were estimated to have been lost to the COVID-19 recession.

47 B

It’s estimated the COVID-19 recession has led to a loss of production equal to $47 billion or 1.3 billion hours.

168 h

Those who were employed in February lost an average of 168 hours between Feb and October 2020

18 h

Men lost more work hours than women who are estimated to be back to pre covid working hours by October (an average of 18 hours a week)

23 %

The expected probability an employed person may lost their job in 12 months has improved from 25% in August to 23% in October

Estimated and Expected Weekly Hours Worked by Month, by sex
Regardless of your basic or contracted hours, how many hours did you work last week in your main job, including any paid or unpaid overtime?
Sources & Methodology
Variable description Grouped by Average Estimated/Expected hours and sex
Variable time span February 2020 - October 2020
Published by ANU Poll
Publisher Link https://csrm.cass.anu.edu.au/research/publications/tracking-outcomes-during-covid-19-pandemic-october-2020-reconvergence
Data Source doi:10.26193/I6ZDOR
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