Debt ‘forcing people into jobs they don’t want’

Many people are accepting jobs they don’t want because they owe money, new research has found.

According to Zety, more than a third (35%) of workers in the UK are taking on or staying in undesirable jobs purely because of debt.

Figures also showed that 5.2 million Britons are taking on second jobs to stay afloat financially.

And that number could soon rise even higher, as 10 million more say they would consider a second job if financial pressures continue.

Meanwhile, 12% of workers said they’re considering a career change largely because of the cost-of-living crisis.

"Debt is no longer just a balance sheet issue, it’s a workforce issue," said Maciej Tomaszewicz, a career expert at Zety. 

"People are climbing out of overdrafts instead of up career ladders."

What debts are people struggling with?

Households across the UK are being squeezed from all sides.

For example:

• mortgage arrears rose by 69% in 2024
• credit card usage is increasing
• almost half of UK adults carry some form of unsecured debt
• the average unsecured debt per adult now stands at £4,232
• 43% of people say they have nothing left after paying for essentials each month

"Financial stress is shaping how people work, live, and plan for the future,” Mr Tomaszewicz said.

“It’s no longer simply about jobs, it’s about survival."

What needs to change?

Zety has described its findings as a “call to action” to policymakers, employers and career advisers, and suggested:

• making sure pay is more closely linked with inflation and the true cost of living
• offering financial wellbeing support in the workplace, including debt advice and budgeting help
• encouraging career growth, not just retention, so people aren’t stuck in roles simply to stay financially afloat

“Work should offer growth, not just a way to pay off yesterday’s bills,” Mr Tomaszewicz added.

“If we want a resilient, future-focused workforce, we need to address the root causes of this crisis.

What can you do to manage rising costs?

If you’re struggling with the rising cost of living, there are ways to ease the financial burden.

Check your benefits

You might be eligible for financial support from the government, so use our benefits calculator to find out what help you could get.

Review your spending

Take charge of your spending and see where you can make savings with our handy budget planner.

Tackle problem debts

If cost of living pressures have led to you falling into debt, then get in touch for confidential, practical and impartial debt advice.