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Nearly 7 million Australians seek second jobs



A recent study conducted by Finder has unveiled the significant financial strain faced by Australians, leading to a surge in the number of individuals seeking second jobs.

With 32% of Australians feeling compelled to augment their income, equivalent to 6.7 million people, the report underscores the widespread economic challenges gripping the nation.

The study reveals a stark gender disparity, with nearly twice as many women as men expressing the need for additional income streams.

Key Insights:

  • Finder’s survey of 1,096 respondents highlights that financial pressures are driving a considerable portion of the population to explore secondary employment opportunities.

  • Women appear to be disproportionately affected, with 41% expressing the need for a second job, compared to 24% of men.

  • Official data from the Australian Bureau of Statistics (ABS) indicates that as of December 2023, 970,700 individuals across the nation were engaged in multiple job arrangements.

Rebecca Pike, a financial expert at Finder, said the growing struggle faced by households in meeting their financial obligations.

Pike attributes this predicament to the escalating costs of living, including rising insurance and energy bills.

The research underscores the heightened vulnerability of young Australians, particularly those belonging to Generation Z and millennials.

Secondary employment

A staggering 56% of Gen Z respondents anticipate the necessity of seeking secondary employment in 2024, followed by 40% of millennials.

Pike advocates exploring alternative avenues for supplementing income, such as renting out unused equipment or spare rooms, and leveraging platforms like AirTasker to market one’s skills.

Pike advises Australians to proactively manage their finances by building up a financial buffer and diligently comparing expenses to potentially secure significant savings.

In conclusion, the findings of Finder’s research shed light on the pervasive financial challenges confronting Australians, urging individuals to adopt proactive measures to navigate the evolving economic landscape effectively.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Workers rush back to their desks over job fears



Workers across Australia are rushing back to their desks, driving office utilisation rates to their highest levels since February 2020.

Tuesdays, Wednesdays, and Thursdays emerge as the busiest in-office days, contrasting with the continued reluctance to return on Fridays.

This insight, drawn from XY Sense data based on 18 enterprise customers in Australia employing approximately 68,000 individuals across 127 buildings, reflects a significant shift in workplace dynamics.

The surge in office attendance coincides with a resurgence in workplace attendance mandates and policies linking physical presence to bonuses and performance reviews.

However, co-founder of XY Sense, Alex Birch, suggests that rising job insecurity, rather than these policies, primarily drives this behavioral shift.

“The pendulum has moved towards the employer, and therefore people feel more obliged to go back into work,” commented Mr. Birch.

Job market

Danielle Wood, chairwoman of the Productivity Commission, anticipates this trend to persist as the job market softens.

She notes a disparity between employer and worker perceptions regarding the productivity benefits of hybrid work arrangements, hinting at potential shifts in the employment landscape.

Meanwhile, economists at the e61 Institute observe a partial reversal of the pandemic-induced “escape to the country” trend.

Rent differentials between regional and capital city dwellings, which narrowed during the pandemic, are now widening again.

This trend suggests a diminishing appeal of remote work options and a return to urban commuting.

Aaron Wong, senior research economist at e61, said the emergence of a “new normal,” characterised by a hybrid lifestyle that blends access to office spaces with proximity to lifestyle amenities such as natural landscapes.

While regional rents decline, rents for homes on the urban fringe surge, reflecting evolving preferences shaped by remote work opportunities.

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Why resilient economy is fuelling demand for Australian property



Despite inflationary pressures, Australian house prices have surged to a record high for the fifth month in a row, as indicated by CoreLogic data.

Australian house prices have not only weathered inflation but have also soared to unprecedented levels, marking the fifth consecutive month of record highs, according to data from CoreLogic.

This resilience reflects the enduring demand for property in the country, showcasing the sustained interest of buyers despite challenging economic conditions.

VentureCrowd’s Head of Property, David Whitting, talks how investors can access alternative ways of property investing.

Presented by VentureCrowd #funding futures #housing #economy

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Three reasons why you don’t need to panic about inflation



Inflation in the US has exceeded expectations for the third consecutive month, driven by increases in essential commodities such as oil, electricity, takeaway food, and medical costs.

  1. Despite a 3.8% year-on-year rise in CPI, it’s notable that this figure has decreased from its previous 9% high.
  2. The robust CPI and economic growth numbers suggest a positive outlook for US corporate earnings.
  3. The S&P500 has seen five 1% drops this year, all of which were met with investors buying the dip.

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