New data from the Office of National Statistics has revealed that many full time employees may go in search of contract work to combat chronic underemployment.
Permanent employees are suffering from a lack of hours, according to the ONS, which found that one out of every ten full-time employees are in search of more hours. The figure is especially telling because of how quickly it has increased over just four years, with the ONS remarking that the number of underemployed have increased by one million workers.
While these permanent workers may wish to transition over to the freelancing market, contractors and umbrella company workers also report wanting more work around 10 per cent of the time as well, indicating that the grass may not necessarily be greener on the other side after all.
The worst regions were found to be the north-east, the south-west, and the East Midlands when it came to underemployment. The lowest underemployment rates in the country, at a few percentage points over nine per cent, was found in the south-east.
Despite the underemployment problem in the UK, many permanent workers may still transition to contract working as an alternative to the full time employee grind due to the flexibility it offers them. However, these permanent workers should be made aware of the uncertainty that accompanies this flexibility, as many contractors report relatively high levels of anxiety from not necessarily knowing how much they will be earning from month to month as contracts come and go.
