One in three Sydney ciders lost working hours and jobs during the blockade

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Studies have shown that one in three people in Sydney lost their employment hours or altogether during the long-term blockade of COVID-19.

Pole Of the 1002 residents of Greater Sydney conducted by online financial broker Savvy in August, 12% of respondents lost their jobs and 22% worked faster.

Therefore, financial well-being declined, nearly half of respondents said their savings had declined, and 35% lived from Peishek to Peishek.

Savvy said extrapolation to 5.3 million residents of Greater Sydney was a source of concern.

Meanwhile, 19% of respondents said they were further saving during the blockade, especially in the cohort aged 18-24.

Well-known managing director Bill Tubalas said a pandemic of debt and bankruptcy could occur unless the economy resumes or more financial support is provided.

“As we all know, the longer this lasts and the less income we can all generate through productive work, the more volatile it puts our economy in a volatile position,” says Tsuouvalas. Told. “All these measures will inevitably worsen people financially the longer they last.”

He emphasized that nearly 30% of respondents said savings would only last for another month.

“If the blockade continues without additional support from the government or elsewhere, Australians may not have Christmas to look forward to in a financial sense,” said Tsuouvalas. “We have to do something to balance the economic costs with the health benefits of ongoing blockades.”

Epoch Times Photo
The normally crowded High Street looks almost empty on August 9, 2021 in Penrith, Sydney, Australia. (Lisa Marie Williams / Getty Images)

Both the Australian Bureau of Statistics (ABS) and market research firm Roy Morgan have reported lower unemployment in their latest data release. However, it was due to the shrinking labor market as people stopped looking for jobs.

“The big picture shows this [falling unemployment] It’s not the result of increased employment, but the impact of the blockade, which directly affects more than half of Australia’s population, “said Roy Morgan. Michelle Levin said..

ABS reported unemployment in July at 4.6% and Roy Morgan reported unemployment in August at 9.5%.

Roy Morgan states that ABS has counted 388,000 Australians who have worked zero hours for financial or other reasons (such as taking a break from work due to a blockade).

Rebecca Chu

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