On International Womens’ Day 2021, the Finance Sector Union (FSU) acknowledges the disproportionate impact that COVID19 has had on working women and calls on the Federal Government to implement solutions to the “pink recession”.
FSU National Secretary Julia Angrisano said to date there has been no gender analysis of policy decisions and no discussion about addressing the impact the pandemic has had on women.
“The first support withdrawn from the economy was free childcare which has a disproportionate impact on women,” Ms Angrisano said.
“During the peak lockdown period in Australia it was women who made up the bulk of FSU members who continued working in face-to-face banking roles.”
“FSU survey data reported that only 52% of women were able to work from home compared to 73% of men.”
“Of the FSU members who were unable to work from home 88% of women worked in customer facing roles compared to just 64% of men.”
Ms Angrisano said a greater proportion of casual workers in the finance industry are women, (67% compared to 56% in all industries). These jobs are insecure and are the first jobs to lose hours and roles during times of uncertainty.
“Women make up 88% of part time workers and 54% of the overall workforce, yet part time workers received just 7.4% of promotions in 2020.”
“The long-term consequences of the Morrison’s governments early release of superannuation policy are disproportionately borne by women, who already retire with superannuation balances less than half that of their male counterparts.”