A quarter of UK workers have considered suicide in the first half of 2019 due to personal debts and financial worries, according to research from GettaSub, the short-term employee finance provider.
The research, which quizzed 2,000 workers across the country about their financial well-being revealed that 23% has considered taking their own life due to financial fears at least once in the last six months.
Of this total, nine% said they have considered suicide more than once. Shockingly, the research also found that four in 10 people (41%) admitted that they have lied about their money problems to their friends and family in the last six months, with two in 10 doing this more than twice
Furthermore, almost a quarter of employees surveyed have been chased by debt collectors for overdue payments, and one in 10 confirmed this has happened to them more than twice. Furthermore, the research also found that 17% of employees have recently called a debt helpline and 16% consulted their GP due to financial stress.
“It’s clear that hard-pressed workers are being pushed to breaking point by the rising cost of living. These findings should serve as an urgent wake-up call for employers to provide much stronger financial and personal support to staff.” Ann Marie Bell, director, GettaSub
“Personal debt is a serious problem in this country, particularly for those on low incomes. It doesn’t take much for people to fall into a downward spiral of debt. It might be an income shock or an unexpected expense, perhaps just a broken washing machine or higher than normal utility bill. Any decent employer should have a vested interest in ensuring that their employees are not weighed down by debt.” Yvonne Favourgue, Labour MP for Makerfield