Why one in two Aussies is considering a second job
Sluggish wage growth sees one in two workers mull a second job, and the NSW government introduces new toll body after Sydney becomes the most tolled city on earth. Here are five things you may have missed this week.
Wages growth only just outpaces inflation
The Wage Price Index (WPI) rose 0.8% in the September quarter 2024, bringing wages growth to an underwhelming 3.5% for the year, according to the Australian Bureau of Statistics (ABS).
It means wages only just crept ahead of inflation of 2.8% for the year.
Michelle Marquardt, ABS head of prices statistics says it's the first time annual wage growth has fallen below 4.0% since mid-2023.
Plenty of Australians can't afford to wait for a bigger pay hike.
Research by recruitment firm Robert Half says almost one in two (46%) workers are considering taking up a second job to keep up with cost of living.
Nicole Gorton, Director at Robert Half, cautions, "Before taking on a second job, it's essential for workers to assess their capacity, and ensure they can handle the additional workload without compromising their health or performance in their primary role."
Gorton suggests those considering a second job should check what (if any) obligations they have with their current employer.
"A failure to comply with an employer's policy or contractual obligations in this space could have serious implications for workers," notes Gorton.
Australia's car crash hot spots identified
AAMI has identified the nation's most dangerous roads by taking a rear vision look at 4.3 million car insurance claims from the last 10 years.
Plenty Road, Bundoora, in Melbourne's north-east has the dishonourable title of being Australia's most dangerous crash hotspot of the past decade.
Other states shouldn't be quick to gloat as AAMI's data identifies the following top crash hotspots around the country:
The peak time for bingles is between 1pm and 4:30pm, when many drivers are rushing home from work and trying to collect kids from school.
Across the nation, Friday remains the most dangerous day on the roads, and nose-to-tail prangs are the most common crash type, accounting for one in four accidents.
Meta accounts for three in four social media scam losses
Consumer group Choice has bestowed its Shonky awards for 2024 - the industry's least sought-after awards that shine a spotlight on dodgy products or services.
This year sees Meta, owner of Facebook, Instagram and WhatsApp, take out a Shonky for failing to protect Australians from scams.
According to Choice, if you're going to be scammed on any kind of social network, there's an extremely high chance it'll happen on a Meta-owned platform.
Meta accounted for 76% of all reported losses to scams that originated on social media last year.
That's a big concern for the more than 21 million Australians who have an active Facebook account - more than 80% of the population.
Cyber scam and fraud academic Dr Cassandra Cross from the Queensland University of Technology says platforms such as Meta can't keep up with the scammers.
"Offenders and their ability to keep putting up multiple fraudulent posts certainly outstrips the ability of companies to try and identify and remove them," she says.
Three in five Aussies experience buyer's remorse
As we head into the peak spending period of the year, research by Finder shows three in five Australians, equal to almost 12 million of us, have experienced guilt because of purchasing decisions.
Dining out and spending on clothing are the purchases most likely to trigger a bout of buyer's remorse.
Sarah Megginson, personal finance expert Finder, said the pressure to be frugal was ever-present thanks to the cost of living crisis.
"Many households are struggling to make ends meet so any kind of impulsive spending can trigger regret," she says, adding that the remorse is usually the result of a lack of planning.
Megginson says setting and sticking to a budget can lower the chance of making impulse purchases.
"It's a good idea to think about the longer term gain of saving more money versus the short term benefits of the new outfit or dinner out with friends," she explains.
"It might only be $50 here and there, but if you can save that amount just twice a month, you'll have over $1200 saved in a year.
Toll reform on the cards for NSW
The NSW state government introduced legislation into parliament this week to create a new state-owned tolling entity - NSW Motorways - that will oversee reforms to the toll road network.
Sydney has become the most tolled city on earth, with a patchwork of different price structures that will cost motorists $195 billion in tolls by 2060.
A review of the current system found residents of Sydney's western suburbs are wearing the bulk of tolls.
Roads Minister John Graham says, "We will transform the system into one that works better for those who use it, particularly motorists in Western Sydney who have little other choice than to spend big on tolls."
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