In recent years, there has been a growing trend of Australians taking on multiple jobs to make ends meet.
Whether it's to make ends meet, pay off debts, or simply to save for a rainy day, more and more Australians are finding themselves working multiple jobs to achieve their financial goals.
In fact, in his column in The New Daily, Simon Kuestenmacher explained that:
"Over the last three decades, the number of people holding multiple jobs doubled, from 433,000 in 1994 to 896,000 in 2022.
In a time where the population of Australia only grew by 44 per cent, this 107 per cent increase is rather dramatic."
The two-job boom and the rise of digital jobs
Since the onset of the pandemic, things look even more severe when we look at the increase of workers with multiple jobs.
Recent data shows that in March 2020, 788,000 are people working multiple jobs.
In the two-and-a-half years since, 107,000 multiple job holders (896,000) were added.
Meanwhile, the universal adoption of remote working arrangements resulted in more digital jobs popping up.
At the same time, the gig economy created plenty of low-paid work opportunities.
Digital rostering, the advent of truly flexible working hours, and the skills shortage made it easy for people to find a second job.
Simon commented:
"Women are more likely to hold multiple jobs. That’s likely because women are overrepresented in industries that dominate the multiple-job segment.
Over 41 per cent of second (or third, or fourth…) jobs are clustered in the health, education and administration industries."
He further commented:
"These sectors only make up 26 per cent of all Australian jobs.
Interestingly, hospitality and retail aren’t more popular among secondary job holders.
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Men (5.4 per cent) and women (7.1 per cent) are taking to secondary jobs at record numbers.
Seeing these numbers rise is a decent proxy for rising cost of living pressures."
Benefits of second jobs
Working a second job can provide a range of benefits that can help improve your financial and professional situation.
Extra income is the most obvious benefit, but there are others as well:
- A second job somehow improves your skills, your network, and ultimately your likelihood of succeeding in your first job.
- It can also be a way to explore different fields and industries, helping you determine what you're truly passionate about.
- Additionally, holding multiple jobs can also help to boost your retirement savings, as well as provide a sense of financial security and independence.
Union membership dropping
Well, union membership has been in a free fall for the last 40 years.
In 1983 over 50 per cent of Australians were members of a trade union.
Today a mere 12 per cent of workers are represented by a union.
Of course, macro-trends are at play here too.
Simon explained the unpopularity of unions:
"We transitioned from manufacturing (union territory) towards knowledge work (not your stereotypical union territory).
Even allowing for the effects of this transition we’d expect union membership to be much higher.
In Australia wage rises that were negotiated by unions also apply to non-union members.
This might discourage workers to become union members and ultimately decrease the influence that unions could have since they represent only a small share of workers directly.
No matter how, wages must grow and the cost of living must be kept down (especially housing) to ensure the Australian bargain still delivers: work hard, afford a humble home, and have a decent life.
A second job should be a choice not a necessity."
Source of commentaries and charts: The New Daily
