Millions of Brits Forced to Take 2nd Jobs amid Cost-of-Living Crisis
TEHRAN (Tasnim) – Millions of British people are being forced to take second jobs to make ends meet amid an escalating cost-of-living crisis, a report said.
The BBC on Tuesday cited a report compiled by Royal London, an insurer, that surveyed 4,000 British adults.
The cost-of-living in the UK is rising rapidly due to surging inflation and rising energy prices, with wages failing to keep up, Anadolu Agency reported.
The study found that 16% of those surveyed had taken on second jobs to pay for increases in living costs – some 5.2 million people if that percentage were applied across the UK. Another 30% said they would need to do so as living costs continue to rise.
The report said even this would not be an option for many, as 28% of full-time employees are already working over 48 hours per week. Of these, 20% were working over 56 hours per week.
Almost a third, 31%, of those surveyed said they were still having to borrow or use their bank overdraft to make ends meet, according to the report, which added that 64% of those surveyed said that they were overwhelmed.
Sarah Pennells, Royal London’s consumer finance specialist, said: “We know that many households started reining in their spending six months ago as costs first started to rise, but with bills continuing to climb, it could be an incredibly tough winter ahead.”
She said many have sought to make spending adjustments, while “others, despite working all the hours they can, just can’t keep their heads above water.”
Pennels added: "While the government’s energy price freeze announcement will have brought relief, escalating costs across the board are deeply worrying, with only one in 10 adults confident they’ll be able to cope financially.”