The surging cost of living and personal debt has emerged as the number one risk to suicide rates in Australia as the country’s central bank has announced another round of interest rate hikes.
The report also found that 40 percent of Australians felt more distressed about their financial situations compared to last year.
Surging Demand For Suicide Prevention Services
Suicide Prevention Australia CEO Nieves Murray said the increase in financial stress occurred as suicide prevention services across the country saw a sharp rise in demand in the 12 months surveyed.She also noted that suicide was a complex issue and often involved multiple factors, including mental ill-health, relationship breakdown, housing and job security, financial hardship, social isolation, retirement or alcohol and other drugs.
Meanwhile, Suicide Prevention Australia and over 40 prominent organisations and individuals put their names on an open letter to Prime Minister Anthony Albanese and all federal MPs calling for the government to legislate a National Suicide Prevention Act, similar to that of Japan.
“For those feeling distressed, help is available, and it’s important to reach out and seek support.”