The Australian Bureau of Statistics (ABS) has released data suggesting many Australians are holding multiple jobs, which has reached record numbers.

Our CEO, Kris Grant, indicates this is due to inflation.

Kris suggests due to the sharp rise in multiple jobholders, many Australians are struggling to make ends meet with one job alone, so they are working two or more jobs to cover the rising cost of living.

The cost of living is rising as mortgage, energy and grocery costs are putting pressure on Australian household budgets. Therefore, many Australians are being forced to work an additional job to overcome the higher inflation rates.

On the other hand, many are also taking advantage of the strong job markets to earn more income to spend and save more.

The figures for June indicated those with two jobs reached 1 million, which was an increase of 5.5 per cent, which shows signs of an incredibly strong job market.

From a vacancy perspective, many employers remain challenged to source talent, which will inevitably lead to higher wages in 2023 as the struggle to fill these vacancies remains and the unemployment rate could stay below 4% for many months.

Want to know more? Read ASPL’s commentary in the HR Leader article.