Cost of living pressures are easing as shift workers’ ability to cover expenses is improving, according to new data, as part of Deputy’s fourth annual State of Hourly Work Survey.

The findings reveal the percentage of workers able to cover their living expenses while having room for savings increased from 25% in 2023 to 35% in 2024 — highlighting significant improvement in feelings of financial wellbeing.

Alongside improvements in the ability to save money, the number of shift workers unable to cover their living expenses significantly decreased from 22% in 2023 to 15% in 2024. This could be attributed to increased levels of income predictability, with two in five (40%) shift workers having a schedule that provides predictable earnings.

Deputy chief financial officer, Emma Seymour said, “Even with high inflation rates and increased living costs, overall sentiment from shift workers on their financial standings is trending upward. This positive sentiment highlights shift workers’ resilience and adaptability to market conditions.

“Deputy data has observed an increase in poly-employment – having two or more jobs – which may be contributing to more consistent working hours, flexibility in schedule, and overall feelings of financial security. Shift workers are making current economic challenges work for them by coupling together multiple income streams to make ends meet.”

However, while feelings of economic stability improved overall, there are notable generational differences with Millennials proving to be the most anxious regarding their finances (38%), closely followed by Gen X (34%). Despite typically being the lowest earners, Gen Z were less worried about money (28%).

While almost three-quarters of shift workers (72%) hold only one job with one employer, a significant number (22%) are juggling two jobs as a means of bringing in additional income. Of those workers who are poly-employed, more than two-thirds (68%) hold multiple jobs within the same industry.

Despite shift workers often lacking access to technology afforded to office workers, many are concerned about AI’s impact on current and future employment opportunities. As such, 66% strongly or somewhat agree that their jobs will change significantly due to AI.

Gen Z are most concerned about AI and automation impacting their job security and daily tasks (21%), particularly in hospitality and healthcare industries at 20% and 18% respectively, where certain roles are already becoming automated. However, workers in the manufacturing sector are the most enthusiastic, with 70% believing AI will aid their day-to-day tasks.