More than half of Australians in the new survey took a second job just to make ends meet. Photo: Tima Miroshnichenko/www.pexels.com
Job growth in 2024 has failed to translate into job security with 52% of Australian workers in a new survey saying they are living payday to payday.
A new ADP Research report surveyed nearly 38,000 workers across 34 markets worldwide and discovered big regional disparities and generational divides, according to the company.
The findings reveal that extra work doesn’t necessarily close the pay gap; nearly six in 10 (57%) of workers surveyed globally struggle to make ends meet even with multiple jobs.
In Australia, 52% of workers with two jobs, and nearly 58% of those with three or more jobs, say they do so because of the cost of living.
KEY FINDINGS
- Global strain: Globally, 54% of those surveyed who have one job, 59% of those with two jobs and 61% of those with three or more jobs are struggling to cover costs.
- Multiple jobs: 58% of Australian with multiple jobs who were asked do it to pay for extra costs with 35% building life savings ahead of retirement. Of those with three or more jobs, 58% are doing it to build savings while 46% are paying for higher costs.
- Countries: Those countries with the highest percentage of workers who live payday to payday is Egypt (84%), Saudi Arabia (79%) and Philippines (78%). South Korea has the lowest proportion (18%).
- In the Asia-Pacific region, Australia has the fourth lowest (50%) proportion. Japan (29%), Taiwan (30%), and China (31%) have lower proportions.
Across global regions, the number of workers working more than one job is highest in the Middle East Africa (34%), Latin America (24%) and Asia Pacific (24%), which includes Australia.
“For small and medium-sized businesses, offering across-the-board pay rises may not be realistic but there are other meaningful ways to support employees,” Judy Barnett, ADP Australia’s operations director, says.
“Flexible work arrangements, subsidised transport, wellness programs or financial planning support can go a long way in easing day-to-day pressures.”
“These practical benefits help build trust, reduce turnover, and create more resilient workplaces at a time when employee wellbeing has never been more critical,” added Barnett.
ADP (Automatic Data Processing) is an American-based NASDQ-listed human resources management company.
