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Inflation fuelling UK’s second job culture
20/06/08
Consumer
inflation is forcing increasing numbers of people to seek second
income, says PeoplePerHour.com.
This week the Bank of England reported that escalating food and fuel
prices have pushed inflation above 3%, forcing thousands of
individuals across the UK to find ways to supplement their household
income.
PeoplePerHour.com – the online marketplace for services – has
reported rapidly rising registrations from people who are in
full-time employment but need to generate extra cash by offering
freelance services in their spare time.
35% of PeoplePerHour.com’s 7000+ freelance service providers have
full-time jobs – a figure that’s rising monthly. People are using
the website to market a wide range of professional skills such as
graphic design, software programming and marketing. On average, a
skilled professional can expect to earn upwards of £250 per month
with just a few hours’ work sourced through the site.
“The current economic conditions have contributed immeasurably to
the burgeoning popularity of sites like ours,” says
PeoplePerHour.com founder Xenios Thrasyvoulou. “On regular salaries
skilled professionals are struggling to make ends meet. It’s little
wonder increasing numbers of them are harnessing their experience
and skills to offer freelance services outside office hours.”
Uncertainty about the economy has resulted in a fertile market for
this growing bank of UK freelancers. Business owners are
increasingly preferring to outsource projects to remote freelancers,
which is cost-effective and minimises the risk associated with
making permanent appointments. PeoplePerHour.com’s buyer feedback
system means it’s also very reliable – businesses can engage the
services of freelancers based on other buyers’ recommendations.
“Inflation has effectively increased both the supply of and demand
for freelancers,” says Thrasyvoulou. “PeoplePerHour.com is providing
a medium through which these market forces are expressed.”
Nick Gibson, editor
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