We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
Secured Loans > Are zero-hours contracts in decline?

Are zero-hours contracts in decline?

3rd October 2017 | Published by Evolution Money

There’s been a lot of talk over the past few years regarding Britain’s so-called ‘gig economy’, particularly the growing number of zero-hours contracts in the job market. In a nutshell, these are contracts that do not guarantee a minimum number of hours per week. But while some say this structure of working affords people greater flexibility and control over their work-life balance, many people argue it can easily lead to a basic breach of employment rights.

Whichever way you look at it, recent findings from the Office of National Statistics (ONS) show that the number of people currently on zero-hours contracts has fallen by 2.2% compared to this time last year. This also means that the number of zero-hours contracts is now at its lowest point in the past three years, a sign that the trend may be beginning to slow down.

It tends to be larger established businesses and corporations that are among the main proponents of zero-hours contracts, particularly those in the admin support, delivery and food services industries.


Under investigation

Following calls from workers and union officials, Theresa May ordered a national inquiry into modern working practices, including the widespread usage of zero-hours contracts, earlier this year.

The subsequent report delivered by Matthew Taylor back in July found that zero-hours contracts had contributed greatly to record levels of employment in the UK. And although Taylor made the point that around 68% of those on these contracts did not want more hours, he also argued that employers and businesses were relying too heavily on short-hours contracts in their scheduling, as well as stating that all zero-hours workers should have the right to request a fixed number of working hours contract should they wish to.

Although any prospect of a national strategy to protect the rights of zero-hours workers remains in its infancy, the feeling is there that the Government is starting to better define the parameters for businesses and workers alike. And, judging by the recent drop in these contracts, it may very well be that the casual working boom has reached its peak.

 

Category: Homepage, Money
This post was written by Evolution Money
Warning: Late payment can cause you serious money problems. For help, go to moneyhelper.org.uk
Representative 28.96% APRC (Variable) - For a typical loan of £20,950 over 85 months with a variable interest rate of 23.00% per annum, your monthly repayments would be £537.44. Including a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00, the total amount repayable is £45,682.15. Annual Interest Rates ranging from 11.7% to 46.5% (variable). Maximum 50.00% APRC. The loan must be paid back by your 70th birthday. Read more.

Think carefully before securing debts against your home your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
© 2024 Evolution Money | Cookie Policy | Terms & Conditions | Fair Processing Notice
Start Here
Please wait

Please wait

Don't leave just yet!

Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

Award Winning

Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

Back to Evolution