Index reveals women face greater economic impact through COVID-19

A new study has revealed COVID-19 could exacerbate women’s wage gaps and unpaid work, leaving a potentially lasting impact well into retirement.

A KEY index has revealed COVID-19 could exacerbate women’s wage gaps and unpaid work, leaving a lasting impact on retirement outcomes.

Finance Women’s Index figures showed men’s full-time employment growth was close to 10 times that of women’s through the March quarter, despite growth being stronger for females before COVID-19.

Australian full-time women’s roles grew 0.1 per cent to reach 3.35 million, compared to a 0.9 per cent rise to 5.49 million for men.

AMP Capital chief economist Dr Shane Oliver said coronavirus was different from previous economic downturns, which mostly impacted males in construction and manufacturing: “The industries that will bear the brunt of the initial impact — accommodation and food services, arts and recreation and retail in particular — have a higher representation of female employees,” he said.

Prapasiri Iamsila, a young woman who has lost her job and is struggling to access financial assistance given she is on a temporary visa. Picture: LUKE BOWDEN

Ernst & Young Oceania chief economist Joanna Masters agreed the pandemic could see women’s economic progress “slide backwards”.

Temporary visa holder Praparisi Iamsila said her hiatus from working at Wrest Point bistro had a devastating impact on her mental health and sense of financial independence.

She said she was grateful her partner and his family could support her through the pandemic, but she felt guilty asking her partner for money.

“I feel like I’ve become the housewife, staying at home waiting for him,” she said.

“I want to go out and earn my own money.”

She said after her partner lost his job, he quickly found new work as a delivery worker, but she feared similar roles would go to people physically stronger than her.

“I don’t know what’s going to happen,” she said.

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