1 in 3 Workers are ‘Just About Managing’

January 26, 2018

As many as a third of the men and women currently in work around the UK consider themselves to be ‘just about managing’ from a financial perspective.

That’s according to a research report by a thinktank called the Royal Society of Arts (RSA), which concludes that there are millions of people around the country who are in work but nonetheless struggling to cope with the financial pressures they face.

“From retail workers to warehouse operatives, and from care workers to cleaners, we are beginning to uncover the hidden millions who are chronically broke year in, year out,” the RSA has said.

“There are many workers in seemingly secure jobs who are just managing to scrape by but are overlooked in debates about how to improve economic security.”

The data collected by the RSA as part of its look into how British workers feel about their circumstances suggests that more than a quarter (26 per cent) don’t feel as if they earn enough money to afford a decent standard of living.

Around 43 per cent said that they would not be able to depend on someone else in their household financially if they were to find themselves in a position of acute hardship.

According to the research, around 28 per cent of people who are in work feel less secure in their jobs now than they did five years ago, while 47 per cent say that they find their work stressful.

The thinktank’s report outlines the idea that zero-hours contracts and jobs reliant on the ‘gig economy’ are more commonplace than they once were but are far from being the only sources of financial insecurity for people in work.

“What we’ve found is that contract type and employment status are not adequate measures of whether someone is economically secure or in poor quality work,” the RSA said in reference to its own research.

“While some people in the gig economy may struggle to make ends meet as they go from job to job, others are satisfied with the hours they work and their degree of autonomy.”

The RSA’s studies clearly highlight that being in work is no guarantee of avoiding financial difficulties and professional insecurity.

If you live anywhere in Scotland and you’re finding it tough to cope with your personal debt problems then Scotland Debt Solutions can help. Contact us to arrange a FREE and confidential consultation.

John Baird

Insolvency Adviser

Tel: 0800 063 9250

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