According to a survey by Qualtrics.com, inflation is forcing over half of Americans to consider second jobs, extra shifts or side hustles to ease the pain of inflation.
The survey, taken in August and September, showed that about 38% of workers have looked for a second job, while an additional 14% have plans to do so, according to a survey of more than 1,000 full-time US employees by Qualtrics International Inc.
At the same time, 18% of working adults said they had moved to an area with a lower cost of living to cut expenses, and another 13% plan to do so.
According to this new study, 64% of Americans are having more trouble making ends meet over the same time last year. Almost one in five (18%) of working adults have cut their expenses by moving to an area with a lower cost of living, and another 13% are planning to do so.
57% of employees want the opportunity to work overtime or extra shifts. Outside of their current job, 37% have looked for jobs with higher salaries, and 38% of workers have looked for a second job. An additional 14% of people plan to look for a second job, meaning more than half of working Americans have considered holding multiple jobs to pay for their living expenses.
69% of working parents say their pay isn’t keeping up with costs. Nearly half say they have looked for a new (43%) or second (47%) job, and 64% want to increase their work hours to increase their pay. Parents are also nearly twice as likely to have moved to cheaper cities as employees without children.
However, Qualtrics says that the quits rate is still above pre-pandemic rates. It says that employees wanted more of a values alignment with employers, but that has now changed with wanting higher compensation.
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