Londoners 'skipping work because they cannot afford the commute' REBECCA SPEARE-COLE - The Evening Standard
Nearly two-thirds of Londoners have skipped work because they were unable to pay for the commute, new research suggests.
A new nationwide survey showed at least 60 per cent of people living in London had failed to go to work because of money problems.
That compared to a national average of 39 per cent.
According to the figures, employees in the capital are in general less financially healthy than those living outside of London.
The study, commissioned by employee benefit provider Hastee Pay and conducted by research firm Vitreous World, asked how employees financially survive the month until payday.
A total of 89 per cent of respondents in London said they had to source additional funds to make it until payday - including loans, credit cards and personal savings. This compared to 82 percent nationally.
More than half in London were also found to have applied for high cost credits such as overdrafts and payday loans (51 percent).
Hastee Pay's CEO and founder James Herbert called the figures "frightening"and said that monthly pay packets contributed to the problem.
London statistics on financial wellbeing
60% of London's workers have had to skip work as they couldn't afford the commute
89% have to source additional funds between pay days
51% have applied for high cost credit (credit card, overdraft, payday loan) knowing they would struggle with repayments but said it was their only option
63% are more likely to reject a job because of the cost of commuting.
54% of Londoners say buy-now-later-schemes influence them to spend money they don’t have
30% said that frequency of pay impacts their lifestyle choices