A new study finds that the absence of workplace injury and illness would create a wealthier Australia. 

Safe Work Australia recently commissioned Deloitte Access Economics to explore the cost of work-related injury and illness in Australia and estimate how much value could be created within the Australian economy by removing work-related injury and illness.

The economic value of reducing work-related injuries and illnesses, shows that Australia’s economy would be $28.6 billion larger each year and 185,500 additional full time equivalent (FTE) jobs would be created in the absence of work-related injuries and illnesses. 

In this scenario, workers across all occupations and skill levels would also benefit from a wage rise of 1.3 per cent on average each year.

“The findings clearly illustrate the economic and productivity benefits to our wider community of investing in work health and safety,” says Safe Work Australia Branch Manager, Evidence, Communications and Strategic Policy, Meredith Bryant.

“Creating workplaces that are safe and free of injury and illness provides broad economic benefits for all Australians, including more jobs and better pay.”

The report highlights that there were 6.9 million work-related injuries and illnesses in Australia between 2008-2018, costing $37.6 billion in health system costs and causing a 2.2 million FTE productivity loss.

“We know that the devastating effects of injury and illness at work go beyond the effect on the individual, their workplace, occupation, industry or jurisdiction in which they occur,” Ms Bryant said. 

“Our communities and the Australian economy more broadly feel the impacts of these injuries and illnesses including through costs associated with loss of productivity, reduced work participation and increased healthcare.”

The study is accessible here.