In addition, household savings increased substantially during lockdowns due to precautionary savings and limited spending opportunities. “In this way, it meant an increase not just in the number of secondary jobs but also in small business creation. Why are we seeing more second jobs in Australia right now?ĭr Dechter points out that people had more spare time to develop and implement their ideas during lockdown, while also experiencing an acceleration in adoption of technology. ‘While we saw job transitions and business creations slowdown in 2020, it’s clearly been followed up by larger than average movements in 2022,” she explains.
She says this rise in people taking on second jobs is not surprising, with the pandemic opening several new opportunities for a lot of people who were looking to supplement or replace their job. The Australian Bureau of Statistics (ABS) recently revealed that the number of Australians with multiple jobs has risen 8 per cent.This made up 6 per cent of all employed people – a massive 900,000 individuals across all industries in Australia, looking to a side gig to make some extra cash.ĭr Evgenia Dechter, a Senior Lecturer at the School of Economics, UNSW Business School is an expert in labour economics. But what are the implications? Image: Kai Pilger / Unsplash More Australians are taking on a side hustle. But is the extra money worth the amount of time (and tax) it takes up? UNSW Business School experts explain. More Australians are now taking on a second job to relieve cost of living pressures.
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