A study shows 17% of UK workers regularly struggle with essential expenses, and 40% have little disposable income. Over a quarter cannot afford unexpected costs of £850. Director Ben Harrison notes that the stagnation of pay significantly impacts financial security, with many younger workers fearing job loss amidst a slow labor market. The trend toward second jobs reflects a need for additional income, as 1.23 million workers now juggle multiple roles—the highest recorded—to meet basic financial demands.
The study reveals that 17% of workers struggle to cover essential outgoings, and 40% have little or no disposable income left for savings or emergencies.
More than a quarter of UK adults (26%) cannot afford an unexpected expense of £850, marking the highest proportion since September 2024.
Ben Harrison highlighted that raising living standards hinges on financial security, not just statistics, as pay stagnation continues to affect many workers.
Official data confirms that 1.23 million workers hold multiple jobs, driven by economic necessity rather than desire, reflecting ongoing pressures from stagnant wages.
#cost-of-living-crisis #uk-labor-market #worker-financial-stress #pay-stagnation #economic-inequality
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