Nearly one in four workers now holds two jobs, a phenomenon linked, among other things, to the inflationary context which is reducing the purchasing power of Canadians.
This is what emerges from an online survey conducted on behalf of TurboTax between January 25 and February 11 of 1,521 randomly selected Canadian adults. During this survey, 23% of workers said they had a secondary activity, that is to say a second paid job, in addition to their main job.
These data are in line with the unquantified observations of the Order of Chartered Human Resources Advisors of Quebec (CRHA). “In the current context, we actually see people finding extra work, especially in the evenings or on weekends,” comments Manon Poirier, Executive Director of the CHRPs.
It also converges with the results of a study conducted by H&R Block, published earlier this month, in which we learned that 85% of Canadians were worried that their income would not keep pace with inflation; in doing so, 28% would have taken steps to make ends meet, such as a second job or paid hobby, a statistic up 13% from the previous year.
According to the TurboTax survey, men (27%) were more likely than women (20%) to hold multiple jobs.
In addition, young people are mostly busier, while 52% of dual-employed workers belong to Generation Z and 34% of the others are millennials.
“It’s easy to explain: young people are the most indebted people,” said economic columnist François Gagnon, also a spokesperson for TurboTax. In recent years, many have taken advantage of lower interest rates to buy a property or change their car, but with the rise in these rates, they have been caught up, which is why some are looking for a second, see a third job to make ends meet. »
Transparency to take advantage of the savings
In all cases, prudence and transparency are required with his – or his – employer(s) in order to avoid any misunderstanding.
“If you have a second job outside of your working hours, it’s a good practice to notify your employer,” notes Ms. Poirier. In many employment contracts, we can find clauses that prevent employees from placing themselves in situations of conflict of interest by working for another organization whose goals or mission would be contrary to that of our employer, or for a competitor, for example. »
The possibility of telecommuting has certainly facilitated multiple jobholding. In 2016, just 4% of workers worked from home, a proportion that rose to 32% in 2021, due to the COVID-19 pandemic, according to data from Statistics Canada. Of those who now mostly work from home, almost 90% said they were at least as productive, if not more so.
That being said, nothing seems to indicate that in Quebec or even across Canada, workers are taking advantage of working from home to hold two full-time jobs, a new trend observed in the United States and Europe, among others.
“If that’s the case, it would still be quite marginal, says Manon Poirier. It would be difficult to work double in a work week without it being reflected in the performance of at least one of the two jobs. »
Once again, the duty of loyalty and trust between a boss and a worker must take precedence, according to the director general of the CHRPs. “This bond of trust could be broken if an employer learns that one of his employees works for another organization when he is paid to work for him. »
Impacts on personal taxation
Working two jobs has repercussions on the income tax return that workers must complete by April 30, recalls TurboTax, which found in its survey that just over half (56 %) of Canadians are aware of this. The youngest, who are part of Generation Z, are even less aware (40%) of this reality.
“When you have more than one job, you may change the tax bracket, so you have to plan that you will pay a little more,” points out Mr. Gagnon.
In Quebec, 83% of respondents acknowledged that the economic situation had had a significant impact on their personal finances, but only 19% gave importance to their tax refund.
“It’s because 60% of Quebecers don’t make a budget,” says Mr. Gagnon. Hence the importance of talking about finances and the benefits that come from better planning. »
However, good planning of your deductible expenses and claiming all the deductions to which you are entitled can prove to be profitable. “Many people forget to go around their medical expenses, which entitle them to deductions, illustrates the columnist. There are also students who do not complete their declaration because they have had no income, but who would be entitled to advantageous tax credits. »
To be representative of reality, the results of Maru’s poll conducted for TurboTax were weighted according to education, age, gender, region of belonging and language spoken at home.
This dispatch was produced with the financial assistance of the Meta Exchange and The Canadian Press for the news.