Australians ‘scrambling’ for second jobs to deal with rising mortgage repayments and cost of living

Australians are struggling to make ends meet due to rising mortgage repayments and a high cost of living, prompting many to seek second jobs. This trend is a sign of economic stress, as people try to prepare for even higher mortgage costs. The increasing unemployment rate, now at 4.6%, is also a concern, with economists expecting the Reserve Bank of Australia to continue hiking interest rates. This could further exacerbate the situation, making it even harder for Australians to afford their living expenses.

Why it matters

Rising mortgage repayments and cost of living are forcing Australians to take on second jobs, indicating a squeeze on household finances. This could lead to reduced consumer spending and economic growth.

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