The rising cost of living is causing employed people to look for either higher pay with a new job or take on additional jobs, according to the recently released Global Workforce Hopes and Fears Survey by PricewaterhouseCoopers (PwC).
The survey shows that 26% of the global workforce is looking to change jobs in the next year, up from 19% in 2022. PwC’s survey is a snapshot of nearly 54,000 workers in 46 countries and territories.
Financial hardship is more widespread worldwide in 2023 than in 2022, according to the survey results. More employed people are working just to pay the bills and are unable to save their earnings for retirement, holidays, or other experiences essential to maintaining a healthy and balanced lifestyle. This group of workers with little to no savings increased from 37% in 2022 to 42% in 2023. Meanwhile, the percentage of workers who can afford to save shrunk to 38% from 47% a year ago.
