Holiday: Study estimates your brutal Friday sickness could cost the economy nearly $500 million

Researchers have warned that your decision to take Friday off after Thursday’s holiday could hurt the economy by nearly $500 million.

The decision to place the day of mourning on Thursday presents employees with a tempting opportunity to celebrate a four-day weekend.

A nationally representative survey by Finder.com found that 1.7 million Australian workers (13 percent) have called in sick for non-health reasons so far in 2022. The days missed is estimated to cost about $354 per employee.

According to that rough equation, experts say employers could lose at least $460 million this weekend by paying for a long weekend.

“Employees are trying to take advantage of the bonus vacation by making it an extra long weekend,” says Personal Finance Specialist at Finder Taylor Blackburn.

“This is how Black Friday got its name in the US – with Thanksgiving always on Thursday, many workers wouldn’t come in on Friday – hence it was a dark day for owners.

“Your sick leave should in most cases be seen as a safety net for serious injury or illness, but there are times when taking a day for yourself is healthy.”

The study, consisting of 1060 people, also extrapolated that about 18 percent of Australians have taken a single sick day so far in 2022.

Prime Minister Anthony Albanese has declared Thursday, September 22, a national day of mourning to mark the death of Queen Elizabeth II, meaning Australians will be given a one-time holiday.

The day of mourning will include a memorial ceremony for the Queen, held in Canberra, and will follow her funeral on September 19.

“It will be a one-time national holiday to allow people to pay their respects for the passing of Queen Elizabeth,” Mr Albanese said.

“I spoke to all the Prime Ministers and Prime Ministers yesterday and I am writing them formally this morning, they will have received their letters by now. They all agree that it is appropriate that it be a one-time national holiday,” he said.

In New South Wales, the Queen’s holiday is treated in the same way as Australia Day and New Year’s Day.

Shops and retailers can trade, as well as pubs and restaurants, but banks and other financial institutions are expected to close.

School children have a day off.

Victorians will end with a four-day weekend, thanks to the public holiday of the Grand Final Day.

Cafés and restaurants are open for free on both days. However, school children will miss something as the public holiday falls during the school holidays.

In South Australia, retailers are allowed to trade between noon and 9pm as a sign of respect for the Queen. Banks, nurseries and schools are also closing.

Schools are closing in Western Australia, but in Queensland students miss a day off because of the school holidays.

In Tasmania, ACT and the Northern Territory, the public holiday will be the same as most other public holidays, with pubs and restaurants open, as well as shops.

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