A few months ago, Mike Petree noticed an alarming pattern: His bank account would go uncomfortably low by the end of the week before he got his paycheck, paid every two weeks on Wednesdays.
Despite not changing their daily routine, the bills for him and his family of 5 skyrocketed: a weekly $120 grocery bill increased to $200, and a refill of the jug $50 gasoline doubles to almost $100 per refill.
“A few times, we had to put our groceries on the Discover card to make sure we had it,” said Petree, 45, of Louisville, Kentucky, who works for a credit card processor. food for the week. He noticed other essential expenses, like utility bills, also increased last year.
Petree said he and his wife, who work as operations directors at a nursing home, make “good money” and were able to comfortably cover all their needs just a few months ago.
But with inflation soaring, has increased 8.3% year-over-year in Augustthat is no longer the case.
Starting this week, Petree will work full-time during the week and part-time cashier at Lowe’s on weekends.
Petree is just one of many Americans responding to inflation by working overtime, applying for a second job and finding contract work to make ends meet.
Nearly 70% of Americans are looking for part-time jobs to fight inflation, according to more than 1,000 full-time, part-time and unemployed workers surveyed by Bluecrew, a workforce-as-a-service platform. September.
85% of Americans say they have changed their spending habits due to inflation, 72% say it has affected the way they view work, and 57% have sought new or additional roles in the past year , according to the survey.
“Rapid inflation forces people to consider not only how they spend their money, but how they make it,” said Matt Laurinas, chief customer officer at Bluecrew.
In many cases, people looking for work have recorded 40 hours of the week and are choosing to work overtime or nighttime and weekend shifts, Laurinas said.
Others taking on additional work include people who hold hourly jobs and want more hours with another company or parents who have weekday care needs and need to work weekends while a partner or family members can take care of.
According to a report from The Wall Street Journal.
Employers have been hiring in a tight market by raising wages and trying to compete with other perks, such as flexible schedules, free food, or a greater focus on merit employee receipt.
But fears of a recession and future consumer spending could prompt some companies to downsize, Laurinas said. Example: Walmart recently announced the plan hired 40,000 workers for the holiday, down from 150,000 retail workers and 20,000 supply chain workers hired last year.
That could make it difficult for half of workers surveyed, who plan to take seasonal work during the holiday to cover their bills. Another 58% of respondents are interested in short-term gig work, which Bluecrew defines as taking on multiple assignments with different companies at the same time.
Many workers already have plans to change their job picture in the new year to keep pace with rising costs: 65% say they foresee themselves looking for new opportunities in 2023. That number. could increase if an economic downturn causes unemployment to rise.
Workers said salary is the most important thing for them when accepting a new job, followed by location, schedule (such as being able to work morning, evening and weekend shifts), calculation flexibility (like the ability to call when needed) and opportunities for growth, according to the Bluecrew survey.
As for Petree, he actually picked his second job on the recommendation of a colleague who did the same thing. With a salary of $15 an hour and 20 hours a week, he hopes it will relieve his family of stress from soaring prices.
He worries overtime could lead to burnout. Instead of working seven days a week, he’s considering working the 6am-10am shift with Lowe on weekdays before starting the 11am-8pm full-time job.
It will be a long day, he admits, but what is best for him and his family depends on the circumstances.