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Inflation forces over half of Americans to consider second jobs: Survey
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People shop for bread at a supermarket in Monterey Park, California, U.S., October 19, 2022. /CFP
People shop for bread at a supermarket in Monterey Park, California, U.S., October 19, 2022. /CFP

People shop for bread at a supermarket in Monterey Park, California, U.S., October 19, 2022. /CFP

High inflation is pushing over half of working Americans to consider taking a second job to pay for their living expenses, according to a new survey from Qualtrics, a U.S. experience management company.

The survey done on more than 1,000 full-time U.S. employees found that some 38 percent of workers have looked for a second job, while another 14 percent plan to do so, meaning "more than half of working Americans have considered holding multiple jobs to pay for their living expenses," the company said in a statement.

"With budgets tightening, workers are searching for ways to meet the rising cost of living, including finding new jobs," Qualtrics Chief Workplace Psychologist Benjamin Granger said in the statement. "Employee turnover is a huge cost for companies, so it's business critical for organizations to understand which of their employees are likely to leave and why, so they can make adjustments to reduce attrition and retain key performers."

Workers with children are feeling the financial pressure even more, said the study, adding that some 70 percent of working parents say their pay isn't keeping up with the rising costs.

"Nearly half say they have looked for a new (43 percent) or second (47 percent) job, and 64 percent 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," the company said in the statement.

The U.S. Labor Department reported last week that the country's consumer inflation in September surged 8.2 percent from a year ago, with core inflation soaring to a four-decade high, cementing another big rate hike by the Federal Reserve. At the same time, Americans' wages are losing ground to inflation at a steep rate, according to a report published on October 4 by the Federal Reserve Bank of Dallas.

(With input from agencies)

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