Aussies hustle to boost income while CEOs earn millions, ‘Hi mum’ scam rakes in $2.6 million, and Tesla splits shares three for one. Here are five things you may have missed this week.
7 million Australians hustle for extra cash while CEOs make millions
Flatlining wages and rising living costs are seeing one in three (34%) Australians, equal to 6.8 million people, hustle to boost their incomes.
The most popular strategy – taken by 14% of income-seekers in the last three months, is selling off personal belongings like clothes and furniture according to Finder.
Close to one in 10 have taken on a second job, and a similar proportion have started a side gig.
Relief could be in sight, with a survey by recruitment firm Robert Half showing 96% of business leaders are increasing their salary budgets this financial year – by an average of 20%
But it’s unlikely to close the gap between bosses and workers.
A report by the Australian Services Union found the CEOs of Australia’s top 100 listed companies now earn about 100 times average adult earnings.
To put this in perspective, the yellow bubble in the image below represents the yearly income for the average worker: $69,000, which is dwarfed by the $9.15 million average annual pay for an Australian CEO.
“Hi Mum” scam sees crims pocket $2.6 million
Warnings about the latest “Hi Mum” scam have been doing the rounds of social media. But that hasn’t stopped 1500 Australians being duped, with reported losses of $2.6 million.
