By Allan Fels, University of Melbourne
Image: iStock
New data released by the Australian Institute of Health and Welfare (AIHW) shows that Australians spent an estimated A$8 billion on mental health related services in 2013-14.
The direct financial impact on Australian business is in the vicinity of $11 billion every year, largely due to absenteeism ($4.7 billion) and reduced productivity ($6.1 billion) from unwell workers still attempting to work.
All this shows that mental health is more than a social issue. It should also be right at the top when we are thinking about which factors influence productivity and prosperity.
At the launch of the government’s response to the National Mental Health Commission in November last year, Prime Minister Malcolm Turnbull said: “Mental illness gnaws away at participation, it gnaws away at productivity.”
Watch: Mia Freedman discusses how she manages her anxiety. (Post continues after video.)
Federal and State Government spending on mental health services has steadily increased over time although what’s not known is how much employees are spending out of their own pockets.