UK employees take second jobs to cope with credit crunch

Thousands of UK employees are taking second jobs to deal with growing consumer inflation, according to an online jobs site.

PeoplePerHour.com, which helps people find freelance work, has reported a rise in registrations of people currently in full-time employment. The company claims 35% of its 7,000 freelance service providers have full-time jobs, and says that percentage is growing.

"The current economic conditions have contributed immeasurably to the burgeoning popularity of sites like ours," said Xenios Thrasyvoulou, the website's founder.

"On regular salaries, skilled professionals are struggling to make ends meet. It's little wonder increasing numbers of them are harnessing their experience and skills to offer freelance services outside office hours."

Last week the Bank of England reported that escalating food and fuel prices had pushed inflation above 3%, forcing thousands of individuals across the UK to find ways to supplement their household income.

"Inflation has effectively increased both the supply and demand for freelancers," added Thrasyvoulou.