Study finds the transport and logistics industry is hit hard by financial stress

AMP’s Financial Wellness report has found the transport and logistics industry is the hardest hit by financial stress, impacting one-in-four workers.
According to the report, there are currently 2.44 million Australians suffering from financial stress and this is having a significant impact on the economy, costing Australian businesses an estimated $31.1 billion per year in lost revenue.
Financial stress impacts one-in-four of Australia’s transport, postal and warehousing employees. This is both a rise from 2016 levels and above the national average among employees across all industries.
Employees troubled by their financial circumstances take an extra 2.4 sick days per year and spend almost an hour per week dealing with money problems at work.
AMP Director of Workplace Super Ilaine Anderson said the transport and logistics industry’s rising financial stress levels are a particular cause for concern.
“Workforces in most industries across Australia have become less financially stressed since 2016. The fact that Transport, Postal and Warehousing is one of the few areas that has become more stressed indicates a need for more support from employers,” Ilaine  Anderson said.
“While many people think money worries are a personal issue, our research shows being financially stressed spills into your working life, increasing absenteeism and impacting productivity,” she said.

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