Q. Which of the following best describes your financial situation during the Covid-19 outbreak?
|I do not expect the Covid-19 will impact my income||24%||22%||26%||16%||18%||37%||22%||28%|
|I have sufficient savings to deal with a short-term loss of income||26%||29%||22%||19%||26%||31%||28%||21%|
|I will struggle with a short-term loss of income, but will get by||29%||30%||28%||40%||28%||20%||31%||26%|
|I will be in serious financial stress with short-term loss of income||21%||18%||24%||25%||28%||11%||19%||25%|
- One in five people expect to be in serious financial stress due to a loss of income (21%), a further 29% say they will struggle.
- Women (24%), those aged 18-34 (25%) or 35-54 (28%) and those living in non-capital areas (25%) are most likely to be in serious financial stress.
- Around half people say they either have sufficient savings to manage a loss of income (26%) or will not suffer a loss of income as a result of the Covid-19 outbreak (24%).
- Those aged over 55 are more likely to be in a strong financial position, with 37% not expecting their income to be impacted and 31% having sufficient savings to manage a short-term loss of income.
|Total||Have dependent children||Do not have dependent children||In paid employment||Not in paid employment||Retired|
|I do not expect the Covid-19 will impact my income||24%||18%||28%||12%||31%||41%|
|I have sufficient savings to deal with a short-term loss of income||26%||23%||27%||27%||14%||36%|
|I will struggle with a short-term loss of income, but will get by||29%||32%||27%||37%||25%||17%|
|I will be in serious financial stress with short-term loss of income||21%||26%||18%||23%||30%||7%|
- A quarter of families with dependent children in the household expect to be in serious financial stress with a short-term loss of income.
Read Essential's ongoing research on the public response to Covid-19.
In this week's report:
- Federal government response to Covid-19
- State government response to Covid-19
- Views towards reopening international borders
- Views towards state border closures
- Comprehension and confidence in PM’s plan to ‘safely reopen’ Australia
- Uptake of a Covid-19 vaccine
- Necessity of mandatory vaccinations in specific situations
- Views towards easing restrictions for fully vaccinated people
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