The generation working double: young people most likely to need second jobs due to rising costs of living

New research has revealed that the UK’s young people may be the generation most likely to need to work more and take on additional jobs, in order to cover rising bills and the cost of living.

The survey by GoCompare of 2,149 people in the UK found that more than 1 in 5 people aged 18-24 think they’ll need a second job this year to cover their costs, and over a quarter of those aged 25-34 (28%) say the same.

Meanwhile, only 2% of people aged over 65 think they will need to find a second job to make ends meet.

As the ‘side hustle’ generation, nearly a third of 18–24-year-olds (31%) claimed they have a side income that supports their living costs – considerably more than the national average (16%).

Surprisingly, men are more likely to have a side income than women, with nearly 1 in 5 men (19%) having supplementary income but only 14% of women saying the same.

GoCompare’s money expert, Matt Sanders said, “Rising costs are hitting the UK public in a number of ways, and this new research from GoCompare shows the lengths people may need to go to in order to pay the bills.”

“Our research suggests people are often working double – having a ‘side hustle’ and thinking about second jobs – in order to make ends meet, and with 15% of respondents saying they will need a second job this year, it’s not just the younger generations that are feeling the pressure.”

“Money saving is our mission here at GoCompare, and we’re committed to sharing advice and tips to help people squeeze every penny out of their finances, from ways of saving energy to comparing providers and finding the best deal.”