The Characteristics of Precarious Workers and the Implications for their Financial Wellbeing

Many workers receive volatile low-moderate incomes and do not have a permanent contract with the associated employer protections. This event explores the extent to which this places them at increased risk of financial insecurity, and considers potential forms of support.    

This CHASM virtual event is part of a collaborative project with the Center for Social Development (CSD), Washington University, supported by JPMorganChase. It will summarise key insights into employment precarity and its financial consequences from the UK perspective.

Confirmed speakers include:

• Dr Louise Overton, Associate Professor of Social Policy and Director of CHASM, University of Birmingham

• Prof Adele Atkinson, Professor of Practice in Financial Literacy and Wellbeing, CHASM, University of Birmingham

• Jo Philips, Director of Research and Innovation, Nest Insight.

The session will begin by sharing insights from new analysis of data from the Money and Pensions Service. CHASM members will define and describe employment precarity in the UK context, considering factors such as precarious workers age, income, and household structure. Evidence will then be presented on the financial health of precarious workers, where issues of income volatility, saving resilience, and future financial expectations will be discussed.  In the final section, Jo Philips will discuss practical tools to improve financial wellbeing, such as payroll savings schemes and increased repayment flexibility.