Australian economy loses $10 billion in one year due to long-term effects of COVID.

Authors of a recent study call for action on addressing health concerns based on alarming statistics.

August 19th 2024.

Australian economy loses $10 billion in one year due to long-term effects of COVID.
According to recent research published in The Medical Journal of Australia, the impact of long COVID has been devastating for the Australian economy, resulting in a whopping $10 billion loss in just one year. The study, conducted by scientists from the University of Melbourne, the Australian National University, and the University of New South Wales, highlights the urgent need for the federal government to prioritize this condition as a public health concern.

The researchers estimated that approximately 100 million working hours were lost in 2022 due to individuals experiencing long COVID symptoms. This had a knock-on effect on the national economy, causing a loss of $9.6 billion, which accounted for a quarter of the country's real gross domestic product growth that year. However, this figure does not even include the economic losses caused by healthy individuals who were unable to work due to caring for loved ones with long COVID.

Symptoms of long COVID, which can include shortness of breath, heavy coughing, fatigue, "brain fog," and sleep problems, can persist for weeks or even months. Professor Tom Kompas from the University of Melbourne noted that workers aged 30 to 49 with long COVID were responsible for the most significant economic loss. In fact, they accounted for 52 million of the total 100 million worked hours lost in 2022.

The research team estimated that between 310,000 and 1.3 million people were living with long COVID in September 2022. As we approach the end of the year, it is estimated that between 173,000 and 873,000 people will still be struggling with this condition. This highlights the urgent need for better support and resources for those grappling with long COVID.

Senior author Professor Raina MacIntyre from UNSW emphasized the importance of providing financial assistance to long COVID patients, especially for those who are unable to work due to their symptoms. This could include access to a disability pension, which would help to alleviate the economic burden faced by these individuals.

Next month, a federal inquiry will release its findings on the Commonwealth's response to the pandemic. In the meantime, it is crucial for individuals to stay informed about the latest developments by following news, celebrity, and sports updates on our WhatsApp channel. This way, you can stay up-to-date without having to worry about comments, algorithms, or the safety of your private information.

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