Tech

IFS says long-term coronavirus has caused UK workers to lose up to £1.5 billion a year in earnings | long corona

After doubling the number of people suffering from persistent symptoms of the virus in the past 12 months, the long-term Covid has cost the UK up to £1.5 billion a year in revenue losses, the researchers say.

The Institute for Fiscal Studies (IFS) said: Rise of long Covid cases It has shown that between 1 million and 2 million is likely to be “an important part of the pandemic legacy.”

Using data from the Office of National Statistics (ONS), IFS found that of the 2 million patients who had to report symptoms for at least three months, about 110,000 took sick leave and lost 4.4 million hours a week.

On average, people who quit their jobs due to long-term Covid will lose an income of £1,100 a month, resulting in a total loss of £1.5 billion a year in total earnings, but employers who pay to cover sick leave take a portion. tab.

Research economist at IFS and author of the report, Tom Wernham, said, “For a significant minority of long-term Covid patients, this condition is not just about health, but also paid work”.

He said low-income families and workers vulnerable to the virus due to existing health problems will be most affected.

“Compared to those whose coronavirus did not last long, people with the disease were more likely to claim benefits before the pandemic (41% vs. 28%), live in poverty (25% vs. 19%) and socially I live in a house. (25% versus 17%),” the report said.

“Previous studies have shown that women, people with underlying health conditions and people living in poorer areas are more likely to be affected, but this is the first evidence that the coronavirus is more prevalent in the poor for a longer period of time,” he added. . .

Wernham said the growing proportion of long-term patients “can therefore place an additional burden on families during the cost of living crisis, especially as COVID-19 is more common in poorer families.”

Sign up for First Edition, our free daily newsletter. Every weekday at 7am (BST)

The report added that COVID-19 could be prolonged. long lastingForcing workers to stop working for at least 3 months or longer after infection.

“This can have significant consequences for some individuals, especially those who do not have savings or cooperative partners,” he said.

According to the report, working with raw data from ONS means it will be difficult to capture the changing medical effects of Covid and how it responds to vaccines. more research Determine the long-term effects of the disease.

Although there is still evidence of absenteeism from work at least three months after infection, the report says the impact diminishes significantly after six months and most people return to work.

IFS says long-term coronavirus has caused UK workers to lose up to £1.5 billion a year in earnings | long corona

Source link IFS says long-term coronavirus has caused UK workers to lose up to £1.5 billion a year in earnings | long corona

Back to top button