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Thursday, September 11, 2008

NYers take second jobs to make ends meet: poll - Crain's New York Business

Poll -- More than a third of the city's residents have taken a second job or added overtime to compensate for the economy, while more than half believe standards of living will decline for the next generation. Print Email Add a comment Elisabeth Butler CordovaNew Yorkers are trying to take their economic fate into their own hands by seeking overtime and getting second jobs, according to a poll released Wednesday by the Siena Research Institute.In the last six months, 34% of the state’s residents have started a second job or added overtime to their schedules to make ends meet. Of the respondents, 13% of retirees said they’ve taken on extra work, as did 43% of lower-income residents.Researchers said that residents are partly trying to save up for their winter energy bills.“Gas and food prices have most people’s attention, and many are driving less, juggling spending or rewriting the family shopping list to include more store brands and fewer cookies, but everyone is bracing for the heating bills this winter,” said Don Levy, founder of the Siena Research Institute, in a statement. “Upstate, downstate; all incomes, nearly 80% of New Yorkers are concerned about the bite energy will take when the weather turns.”The poll, which queried 513 households and comes with a margin of error of +/- 4.3 percentage points, showed that many residents are simply accepting today’s economic turmoil as a new way of life. About 52% of respondents said they believe the country’s best economic days are behind us and that the next generation will have to accept a lower standard of living. Nearly 75% of voters said food prices are seriously affecting their financial condition, and 67% continue to feel the pinch of gasoline prices.In May, fiscal analysts for Gov. David Paterson said a recession was beginning in New York and should continue into early 2009.Still, some optimism remains, Siena researchers said.“Even though more New Yorkers expect the economy to decline than to improve over the next twelve months, by a margin of 49% to 32%, residents think their personal situation will improve,” Mr. Levy said.Residents who take a second job or work more overtime are trying to make that happen for themselves. “It’s a natural reaction to economic insecurity,” said Jim Brown, an economist at the state Department of Labor.
NYers take second jobs to make ends meet: poll - Crain's New York Business
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