An increasing number of New Zealand workers are seeking a second source of income as cost-of-living concerns continue to mount despite the country’s easing inflation of 3.3%, according to a survey by recruitment firm Robert Half.

The survey polled 501 full-time employees and found that 49% of workers were considering taking on a second job in the next 12 months, while 42% said a second income was necessary to meet their financial needs.

According to data from Stats NZ, the number of multiple job holders in New Zealand had risen to 220,900 in the second quarter of 2024 from 187,600 in the first quarter of 2019 across all industries.

At 57%, Generation X are the most likely to seek an additional source of income, followed by Generation Z (56%) and millennials (51%). Baby boomers (33%) are the least likely generation to be considering an extra job to meet the increased cost of living, Robert Half said.  

A majority of respondents who have or would consider a second job, or 84%, do so solely for financial reasons, the survey found. Other reasons include extra funds for discretionary spending (32%), pursuit of personal passions (7%) and a back-up job in case of layoff from their primary work (10%).

“In the current economic climate with [the] rising cost of living, more New Zealand workers are seeking additional employment to boost their earnings and strengthen their financial wellbeing,” Megan Alexander, managing director at Robert Half, said in a press release on 26 September.

“However, taking on a second job requires careful consideration to balance financial needs with personal wellbeing.”

Workers also need to consider how employers might react to staff taking on a second job as it could result in non-compliance with company policy or workers’ contractual obligations.

While more than half of respondents, 56%, said their company would support them, 25% believe their employer would be against them taking on a new job.

“Before taking on a second job, it’s vital for workers to honestly evaluate if they can manage the extra workload without jeopardising both their health and performance at their main job,” Alexander added. “For those considering a second job, they should opt for one that aligns with their skills and interests, while ensuing it doesn’t create a conflict of interest with their primary employer.”