Australians ‘scrambling’ for second jobs to deal with rising mortgage repayments and cost of living
Australian workers are increasingly taking on second jobs as the cost of living rises and mortgage repayments climb. Despite a slight increase in unemployment, analysts expect the Reserve Bank to continue raising interest rates to combat persistent inflation.
Why it matters
The trend highlights the growing financial strain on households and the potential for further economic tightening in Australia.
The share of employed people working more than one job pushed to an all-time high of 6.9%. The share of employed people working more than one job pushed to an all-time high of 6.9%. Australian economy Australians ‘scrambling’ for second jobs to deal with rising mortgage repayments and cost of living Latest data also shows unemployment at highest level since the pandemic, which analysts doubt will stop RBA hiking interest rates
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Prefer the Guardian on Google Australians are “scrambling” to find more work to cover soaring living expenses and prepare for higher mortgage costs, economists say, after new data showed unemployment ticked up to it’s highest rate since the pandemic.
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