AS skilled workers are back in demand but the cost of living both in the Philippines and overseas is rising, more migrant workers are taking up another job, according to money transfer firm WorldRemit.
WorldRemit’s recent survey showed more than half or 54 percent of remittance senders have taken up a side hustle since the start of the pandemic.
A 2022 survey showed that inflation has led to more people seeking side hustles. With the boom of the gig economy, people have found more ways to earn extra income, as well as satisfy a greater appetite for work flexibility born from the Covid-19 pandemic, the company said.
Platform or app-based work, mostly involving delivery, ride-hailing, and short-term rental services, has become particularly popular among gig economy workers.
“While workers get more independence from the gig economy, challenges can be even greater for overseas Filipino workers participating in it while in another country,” Earl Melivo, head of Asia Pacific of WorldRemit, said.
“You either tighten your belt because you might have had the same income as you have had in the past years, or you take up another job or side hustles in order to make ends meet,” he said.
Several studies found that migrants doing gig economy work are often exposed to unsafe working conditions, low pay, limited job opportunities, and little legal protection.
Meanwhile, WorldRemit’s data shows that 82 percent of senders feel the brunt of inflation; and 19 percent have taken on more jobs to continue supporting friends and family abroad.
Some even stick to the jobs they had as students despite having degrees and professional careers, mainly at the expense of their time, lifestyle and health.
Despite migrant workers making more money, WorldRemit’s data also found that 45 percent of senders now remit to immediate relatives only due to rising inflation. In line with this, both OFWs advised fellow workers to limit their obligations and budget wisely.
WorldRemit operates in more than 5,000 money transfer corridors worldwide, and employs around 1,200 people globally.