Over the last two years, growth in wages and salaries have not kept up with rises in the cost of living.
The Australian Bureau of Statistics estimates the cost of living for the average “employee household” rose by 16.7% in the two years up to December 2023.
In contrast, average wages, as measured by the Wage Price Index, rose by only 7.7% over the same period.
As a result, many workers have had to either cut back on spending or find ways to supplement their regular income. Perhaps the simplest strategy, especially when demand for labour is strong, is for households to increase their working hours.
This might involve family members who previously did not have paid employment seeking work, or individual household members seeking either more paid overtime or a second job.
I’m not Australian so this might be a stupid question - is that how access to healthcare works in Australia?
Sort of? Past a certain income level ($97 kAUD), you pay an additional levy (1 - 2%) on your taxes for the public system (which goes into supporting it), but otherwise can access it for relatively low cost/free if you’re a citizen, in an insurance-like system (if you go to a place that doesn’t do it automatically, but still qualifies, you can get a rebate).
You can avoid paying the tax if you opt for private health insurance, and don’t use the public system altogether.
Neither of them are tied to employment, although some employers do offer health insurance as an extra addition in pay package bundles, like they do with cars and things.