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One in Three Sydneysiders Lost Work Hours and Jobs During Lockdowns

Amnon Free Press/Central Press Syndicate, USA. Read, Enjoy and Share the Latest US News Updates.

One in three people in Sydney have lost employment hours or their job completely during the extended COVID-19 lockdown, a survey has found. A poll of 1002 Greater Sydney residents conducted by online financial broker Savvy in August found that 12 percent of respondents lost their job, and 22 percent were working reduced hours. Financial wellbeing, therefore, fell, with almost half of the respondents saying their savings had reduced, while 35 percent were living paycheque to paycheque. Savvy noted that the numbers were a cause for concern once they were extrapolated to the 5.3 million residents of Greater Sydney. On the other hand, 19 percent of respondents said they were saving more during the lockdown, especially the 18 to 24-year-old cohort. Savvy managing director Bill Tsouvalas said a shadow pandemic of indebtedness and insolvency could occur unless the economy re-opens or more financial support is provided. “As we all know, the …

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