"I once did a shift from 3pm to 2am and was due in at 10am for my next shift. At three minutes to 10am, I got a call asking me to start an hour later because it was quiet. I'd walked half an hour to get there and my six-hour shift was becoming a five-hour shift."
"If the economy grows that should mean higher pay and more job opportunities. BBC Your Voice has spoken to people in their 20s and 30s to find out how they are currently faring financially and how they feel about their future prospects."
"Since Labour came to power, the Bank's interest rate, which affects borrowing costs such as mortgage rates, has fallen from 5.25% to 3.75%. The Bank is independent from government decisions on monetary policy."
Chancellor Rachel Reeves will provide an economic update on growth prospects over coming years. Economic growth typically translates to higher wages and better job opportunities. BBC Your Voice surveyed young adults in their 20s and 30s about their financial situations and future outlook. Andrew Hall, a 24-year-old bartender, struggles financially despite working 30-50 hours weekly on an 8-hour contract, facing unpredictable shift cancellations and rent increases from £600 to £750 monthly. He has abandoned hospitality aspirations and plans university attendance. Jack Wood, a 24-year-old technical operator, benefited from falling interest rates, which dropped from 5.25% to 3.75% under Labour, enabling him and his girlfriend to purchase their first home.
#young-adults-financial-struggles #uk-economy-and-employment #housing-costs-and-interest-rates #gig-economy-and-job-insecurity
Read at www.bbc.com
Unable to calculate read time
Collection
[
|
...
]