International Workers Day 2024

The employment rate for people aged 16 – 64 in the UK was reported at 74.5% between December 2023 and February 2024.

For International Worker’s Day, we want to highlight the number of people who are overworking to stay on top of high living costs. As well as those who, although are working in full-time jobs, are still dealing with unaffordable debt.

 

Overworking

Although no UK employer can legally require you to work over 48 hours per week, people on a low full-time income can struggle to pay essential living costs. This is more important than ever with the Cost of Living Crisis, with 84% of people in the UK stating that rising costs are the direct cause of their debt problems.

To counteract an imbalance between income and expenses, some people look for additional employment to bridge the gap in their finances.

Here at Trust Deed Scotland^®, we talk to thousands of people every year who are struggling to fund their everyday essentials. In a survey from November to December 2023, we found that 74% of our customers were employed full-time¹. Unfortunately, full-time employment isn’t always enough. As shown by the report that 4.5 million UK workers were considering taking on a second job in 2023 to make ends meet.

 

Cutting Back on Costs

Another way people across the UK are combating the rising cost of living is by cutting back on costs wherever possible. In a Trust Deed Scotland^® customer survey, we asked our customers where they were cutting back:¹

• 78% told us that they cut back on socialising to combat the cost of living crisis.
• 46% of our customers told us that they cut back on heating to combat the cost of living crisis.
• 44% told us that they cut back on buying food to combat the cost of living crisis.
• 28% of our customers told us that they borrowed money from family or friends to combat the cost of living crisis.
• 11% told us that they took on additional credit to combat the cost of living crisis.

Debt happens. We are here to help. We advise on the available debt solutions so that you can pay off your debts in affordable monthly payments, and so that you can feel less stressed about keeping up with the rising costs. Find out how we have helped thousands of people across Scotland manage their debts with over 10,000 reviews on TrustPilot.

 

Working in the UK

Overworking can also be a problem within one job role, as well as by taking on a second job. Compared to the rest of Europe, the UK has the highest weekly average of working hours; with UK employees working 42 hours per week on average. Reported statistics also show that;

• 43% of UK workers are regularly working unpaid overtime.
• 64% of UK workers feel pressure to be available for contact regarding work constantly.
• 42% of UK workers catch up on unfinished work during their free time.

 

Work-Life Balance

Work-life balance has become a more significant topic for discussion since the pandemic, and as the country puts more importance on mental health awareness.

The number of UK employees who want to work for a company that supports mental health has doubled in the past 10 years – now at 55%. As well as 66% of UK workers stating that they take work-life balance into high consideration when job hunting. Although it is clearly of high importance, many UK employees reportedly struggle with their work-life balance:

• 88% of UK employees have felt burnout from work in the last 2 years.
• 82% of UK employees don’t take their full lunch break, with many UK workers often eating lunch at their desk.
• 28% of UK employees state their productivity is directly and negatively impacted by poor work-life balance.

 

The Importance of Health and Wellbeing at Work

With such a high number of UK workers struggling to maintain a positive work-life balance, how does this affect us long-term?

Burnout

With a lack of work-life balance, workers are much more likely to experience burnout; causing both their health and work productivity to suffer. 8 in 10 workers who have experienced burnout state that a lack of work-life balance is the direct cause.

Burnout is recognised by the World Health Organisation (WHO) as “a syndrome conceptualized as resulting from chronic workplace stress that has not been successfully managed.” Many of us already understand the term, naming it to periods of physical and mental exhaustion due to stressful or overworked jobs.

Overworking and undergoing stressful jobs will eventually have a detrimental effect on your health. Ignoring the signs of burnout or the signs that you are struggling, can cause more harm to your physical or mental health down the line. Such as lacking the energy or ability to meet your job’s demands.

With new stats from April 2024 showing that unemployment in the UK had increased over the last 3 months, experts dived into explanations on reasonings for this…

The head of the Institute for Public Policy Research’s Commission on Health and Prosperity, Chris Thomas, said:

“The number economically inactive because of sickness has, once again, come in at the highest since records began.

Economic inactivity as a result of long-term sickness stands at 2.83 million, while the number not participating in the labour market because of long-term and short-term illness combined has broken three million for the first time.

It is time for the government to recognise that better health is the clearest, untapped path of prosperity. But ministers need to go further and faster to create a healthier, more prosperous nation.”

 

Debt Help

At Trust Deed Scotland^®, we help our customers to find the best debt solution for them. With customers reaching out to us for many reasons, we do not judge. We understand the vast array of reasons for debt, and aim to help our customers to deal with debt.

If you find yourself struggling with debt due to rising costs, a low-income job, health issues affecting your work abilities; we can provide you with tailored debt advice.

Get in touch with us via our WhatsApp Debt Advice service, or call us on 0141 221 0999.

Alternatively, you can quickly check your eligibility for different debt solutions by using our Trust Deed Wizard^® tool.

¹ November – December Trust Deed Scotland^® customer survey with 2,246 responses.