COVID-19 to cost Australia $170 billion and women will bear the brunt

The coronavirus recession will cost the Australian economy at least $170 billion and weigh on the nation for years, with warnings low-skilled women were already being left behind before the country was shut down to stop the pandemic's spread.

Professor McKibbin and Mr Fernando modelled the economic impact of past pandemics and expected infection rates due to the coronavirus outbreak.In Australia's case, the economy does not return to its pre-virus level until at least 2022. Between this year and 2025, the economy will take a cumulative hit of $220 billion, which could reach $446 billion if there is a second wave.

"There is no doubt that COVID-19 is a significant negative shock to the world economy and our modelling makes that clear." There are 2.8 million women who did not study beyond high school or a Certificate I — 600,000 of them were either unemployed or underemployed before the advent of the coronavirus.

Ms O'Neil will use an address in Melbourne on Friday to reveal the number of underemployed women doubled between the global financial crisis and the period before the coronavirus. There is now a real risk this could explode in the wake of the pandemic."Inadequate hours at work, and the financial pressure it brings, is not a new problem for these women. It was not created by COVID and it will not end with COVID," she will say.

swrighteconomy JennieDuke Where's that thinking when it comes to those working in physically demanding jobs and war

swrighteconomy JennieDuke What do Charlotte's spider web and Lurvy's Navajo blanket have in common? Swastikas! Find more hidden Nazism-related meaning of the children's classic Charlotte's Web in this 36-page SSRN paper, at

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