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Women to save the Australian economy

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Who would have thought that a coronavirus could turn out to be a virus that women and the economy should have? I believe the answer would be close to zero, but an investigation by the CEO of Women and Impact Economics has shown that labor shortages in the country can be remedied by making women’s return to work easier and more attractive to women.

SMH says the number of ready-to-work women starts at half a million, when the pay gap between men and women is halved. And it could be a million if the wage gap was completely eliminated!

These are large numbers that compensate for about 500,000 foreign workers who left the country during the coronavirus blockade. To see how important temporary migrants are for our economy, Conversation reported: “A new report by the Gratton Institute, Migrants in the workforce, shows that as of January 2022, there were about 1.5 million temporary migrants in Australia, compared to almost 2 million in 2019. ”

These people are mostly international students who come to about 335,000, while vacationers and tourists – only 19,000.

Another interesting fact: most kiwis living here (about 660,000) have temporary visas, so the madness of Jacinda Ardern on closure has exacerbated our problems with labor shortages.

SMH says there are now 425,000 vacancies, which is a record. To attract more women, the Chief Executive Women’s Group (CEW) wants childcare benefits to be increased to employ a huge female workforce waiting to return to work.

Caring for children is a major election issue, and CEW wants the child care subsidy to be increased to 95% for all low-income families up to $ 80,000.

This is the current state of reality and promises from both sides of the policy: “Workers child care policy will cover up to 90 percent of childcare costs for families earning up to $ 530,000 a year, while the coalition system currently in place benefits those earning up to $ 354,000 a year . Labor is estimated to be worth $ 5.4 billion over four years. ” (SMH).

To make it clear, a family with an income of $ 75,000 will receive a 90% childcare subsidy, and a family earning $ 500,000 will receive a 7% subsidy. For those families earning $ 200,000, the coalition subsidy is 50% and Labor is 66%.

Sam Mastyn, who heads CEW, believes that investing in the return of women to the workforce should be compared to deep investment in infrastructure, which costs billions but whose profits are large in the long run.

Another interesting finding from Impact Economics was that a man with a bachelor’s degree in a female-dominated industry earns $ 39.20 an hour, while for a male-dominated industry it’s $ 51 – a difference of 30% !!

Due to the fact that the return of foreign workers will be slow, this is a great chance for women to work more fairly in the workplace.

https://switzer.com.au/the-experts/peter-switzer/women-to-rescue-the-australian-economy/?utm_source=rss&utm_medium=rss&utm_campaign=women-to-rescue-the-australian-economy

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