Weekly Digest – 5 October 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Consumers turn to personal loans to make ends meet

High inflation and rising interest rates have resulted in a spike in personal loans. Demand reached a 10-month high in August.

Rate hike expected this week

The Reserve Bank is expected to raise the official cash rate this week to 3.5 per cent. It’s the eighth consecutive rise in the ongoing battle against inflation.

Housing prices declining across the country

After reaching record highs at the beginning of this year, housing prices continue to decline – dropping on average by $10,000 per month.

Banking scams are on the rise

The Banking Ombudsman Scheme’s latest report revealed this week that scam complaints increased by 63 percent on the previous year in 2021. A spokesperson for the organisation noted that scammers are becoming increasingly sophisticated.

Auckland rail closures to continue through 2025

Train users in Auckland will face delays for years as the network undergoes a $350 million upgrade. Rock foundations under the train tracks will be replaced across the city’s 130km rail network.

How to save on your power bill this year

Consumer NZ says that there is potential to save up to $600 annually if you take the time to switch power providers. While prices are going up around the country, the amount of competition in the market means there is some room for negotiation.

2023 set to be a painful year, cost-wise

Data from Statistics New Zealand shows inflation is now the highest it has been in three decades, and Kiwis are being warned that 2023 will be “tough and uncomfortable”.

Will working from home keep us productive enough?

In our post-pandemic world, workers of all generations now expect to be able to work at least part of the time from home. Experts wonder if the next generation will make their career decisions based on their ability to do so.

Five jobs likely to be automated in the next decade

A Future of Australian Jobs Report completed by workforce data and analytics platform Faethm provides a list of the 5 jobs that will likely be automated within the next 10 years. The platform uses AI to analyse millions of data points.

More and more companies are embracing the 4-day work week

While some companies are still in a trial phase of offering a 4-day work week while maintaining the same amount of pay, others have made the switch permanent. Proponents of the scheme argue that it results in happier employees, increases productivity, and attracts better talent.

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