The living expenses crisis “has a great impact on people of color”

The living expenses crisis is now hurting everyone.

But it is not surprising that the most marginalized people in society are the ones who are suffering the worst consequences.

According to a new study by networking groups PeopleLikeUs and Censuswide, the rising cost of living is hitting the majority of UK workers, with nearly half (49%) of employees living paycheck to paycheck and more From the half. I don’t save money every month now (53%).

More than one-third (34%) of professionals from racially diverse backgrounds say salaries don’t cover mortgages, rent, and energy charges (27% of whites do the same).

The survey was conducted by Censuswide on a sample of 1,200 UK professionals aged 16+ across the country by age, gender and region.

More than a quarter (28%) and more than a third (34%) of ethnic minorities can no longer pay monthly taxes, rent and mortgages. As a result, more than a quarter of minorities are thinking of returning to their families (29%).

Professionals who work in racially diverse settings are nearly twice as likely to be told they won’t receive their promised salary this year due to inflation (19% compared to 10% for white professionals). Now it is twice as likely as whites. Experts believe that the current economic situation will widen the wage gap between ethnic groups (25% vs. 13%).

As a result, 35% of ethnic minority professionals were forced to rack up additional debt by borrowing and using credit cards, and nearly a third of 31% borrowed money from their families.

work-life imbalance

When it comes to employment, 73% of respondents believe that rising costs have some impact on their work life. This rises to 85% of ethnic minorities. More than a quarter (28%) say it affects performance in the workplace, and minorities are more likely to feel this effect (36%).

One in five employees (22%) feel they have to change jobs because they can’t afford living expenses, which is roughly 16% of the population.

About a fifth of employees are also considering taking on a second job to cover rising costs (21%).

Rapid national pay gap

Uncovering the reality of ethnic pay inequality in the UK is difficult because companies don’t need to publish this data, but in a survey by people like us earlier this year, colored races are the largest. It was shown that up to 16 people can be paid. % Less than white.

According to a recent survey, two-thirds (67%) of professionals with different racial jobs believe that white colleagues doing the same job earn higher wages.

A quarter said they believe the pay gap is up to 5,000 5,000. This means that people of color stand to lose $255,000 in their working lives due to the large racial/ethnic wage gap.

Of people of different racial backgrounds who had trouble raising or applying for a promotion, a quarter (26%) left the industry because they didn’t give a raise and thought it was worth it, half (50%) said they didn’t . Rising salaries and promotions made them restless and depressed.

Compensation and Occupational Safety

According to the data, minorities can earn nearly twice as much (19%) as white minorities (10%) due to rising employer costs.

Job security is even more of a threat to the minority, with less than a third feeling their employment does not affect nearly half (46%) of white professionals.

This will exacerbate the problem of wage inequality for the 25% of minority members.

Thus, thousands of Black, Asian, Colored, and Minority Professionals are likely to be further indebted due to unequal pay practices during the cost of living crisis.

Several measures have been taken to address this problem. Around a quarter of those surveyed said employers (25%) raised wages due to rising inflation, but fewer than one in five (19%) received government support.

Last week, the government announced a გირ400 energy subsidy. It will take effect in October 2022. But for many, it barely scratches the surface.

Shiraz Gulsher, co-founder of People Like Us, said: However, this is not the case for everyone.

“It is very important that capital does not fall below the priority list during these difficult times, especially if this data shows that the crisis is having a significant impact on the minority.

According to Shiraz, his organization is now calling on the government to reconsider the ethnic pay gap so that companies become mandatory.

“We take a really big step towards creating a fairer and more equitable society,” he added. “We also ask all HR leaders, payroll professionals, CEOs and business leaders to use the free tools on our website to measure pay inequality, which promotes equality for companies of all sizes. It’s an exercise simple to help you do it.

“In this difficult time, when people from different backgrounds think that wages are already lower than white people, like us to create fair and equal pay and transparency for the entire UK workforce. We believe that the mission of people is more important than ever.

Do you feel you are a member of an ethnic minority and disproportionately affected by the cost of living crisis?

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