Lockdowns have disproportionately affected workers for small businesses compared to large businesses, according to an analysis by the Institute of Public Affairs (IPA). The analysis of Australian Bureau of Statistics (ABS) unemployment data found that between June 26 and July 17, 420,000 jobs were lost—or 20,000 a day. The New South Wales (NSW) jobs sector was hit hardest, with 200,000 small business workers, 64,000 medium-sized business workers, and 12,000 large business workers losing their jobs over the three-week period. “Lockdown measures have a much larger impact on small businesses than they do on large businesses,” IPA research fellow Kurt Wallace said. “Every time a lockdown is implemented, the effect is the same: thousands of small business workers are forced out of work, while those working for large corporates are far more likely to keep their jobs.” Further, the IPA argues that unrelenting lockdowns mean large conglomerates will dominate the economy …
Lockdowns Devastate Small Business and Leaves Economy Dominated by Large Corporations
August 25, 2021
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