Weather
The Pine Tree, News for Calaveras County and Beyond Weather
Amador Angels Camp Arnold Bear Valley Copperopolis Murphys San Andreas Valley Springs Moke Hill/West Point Tuolumne
News
Business Directory
Weather & Roads
Sports
Real Estate
Search
Weekly & Grocery Ads
Entertainment
Life & Style
Government
Law Enforcement
Business
Wine News
Health & Fitness
Home & Garden
Food & Dining
Religion & Faith
Frogtown USA
Calendar
Polls
Columns
Free Classifieds
Letters to the Editor
Obituaries
About Us


Log In
Username

Password

Remember Me



Posted by: thepinetree on 08/24/2017 07:00 PM Updated by: thepinetree on 08/24/2017 07:00 PM
Expires: 01/01/2022 12:00 AM
:

Survey Says 78% of Americans Living Paycheck to Paycheck

Chicago, IL...Do you countdown to payday? You're not alone. More than three-quarters of workers (78 percent) are living paycheck-to-paycheck to make ends meet — up from 75 percent last year and a trait more common in women than men — 81 vs. 75 percent, according to new CareerBuilder research. Thirty-eight percent of employees said they sometimes live paycheck-to-paycheck, 17 percent said they usually do and 23 percent said they always do. The national survey, which was conducted online by Harris Poll on behalf of CareerBuilder from May 24 to June 16, 2017, included representative samples of 2,369 full-time employers and 3,462 full-time U.S. workers across industries and company sizes in the private sector.




More Money, Less Financial Headaches?
Having a higher salary doesn't necessarily mean money woes are behind you, with nearly one in 10 workers making $100,000 or more (9 percent) saying they usually or always live paycheck-to-paycheck and 59 percent in that income bracket in debt. Twenty-eight percent of workers making $50,000-$99,999 usually or always live paycheck to paycheck, 70 percent are in debt; and 51 percent of those making less than $50,000 usually or always live paycheck to paycheck to make ends meet, 73 percent are in debt.

"As an employer, your employees' financial problems become your financial problems," said Rosemary Haefner, chief human resources officer for CareerBuilder. "If workers are constantly thinking about their financial struggles, their quality of work can decrease, and it can take a hit on their morale and productivity. If you do what you can to help people keep their finances under control — by doing things such as matching 401(k) contributions or hosting financial planning seminars — you'll ease some of their financial worries and it will be less likely to have a negative impact on your business."

Debt is a Growing Issue for Workers
A quarter of workers (25 percent) have not been able to make ends meet every month in the last year, and 20 percent have missed payment on some smaller bills. Further, 71 percent of all workers say they're in debt — up from 68 percent last year. While 46 percent say their debt is manageable, more than half of those in debt (56 percent) say they feel they will always be in debt. And it should be noted that 18 percent of all workers have reduced their 401k contribution and/or personal savings in the last year, more than a third (38 percent) do not participate in a 401k plan, IRA or comparable retirement plan, and 26 percent have not set aside any savings each month in the last year.

Less than a third of workers (32 percent) stick to a clearly defined budget and a slight majority (56 percent) save $100 or less a month:

None: 26 percent
Less than $50: 15 percent
$51 to $100: 16 percent
$101 to $250: 14 percent
$251 to $500: 11 percent
$501 to $750: 5 percent
$751 to $1,000: 4 percent
More than $1,000: 10 percent
Still, despite financial woes, there are certain things employees aren't willing to give up. When asked what they'd absolutely not give up, regardless of financial concerns, employees cited:

Internet connection: 54 percent
Mobile device (smart phone, tablet, etc.): 53 percent
Driving: 48 percent
Pets: 37 percent
Cable: 21 percent
Going out to eat: 19 percent
Traveling: 17 percent
Education: 13 percent
Buying gifts for people: 13 percent
Alcohol: 11 percent
Minimum Wage Workers Can't Make Ends Meet
The majority of workers (81 percent) have worked a minimum wage job, and 71 percent of them were not able to make ends meet financially during that time — more than half (54 percent) had to work more than one job.

To alleviate some financial burden, 83 percent of employers that are hiring minimum wage workers this year (45 percent) will be raising the minimum wage at their organization.

Survey Methodology
This survey was conducted online within the U.S. by Harris Poll on behalf of CareerBuilder among 2,369 hiring and human resource managers ages 18 and over (employed full-time, not self-employed, non-government) and 3,462 employees ages 18 and over (employed full-time, not self-employed, non-government) between May 24 and June 16, 2017 (percentages for some questions are based on a subset, based on their responses to certain questions). With pure probability samples of 2,369 and 3,462, one could say with a 95 percent probability that the overall results have sampling errors of +/- 2.01 and +/- 1.67 percentage points, respectively. Sampling error for data from sub-samples is higher and varies.

About CareerBuilder®
CareerBuilder is a global, end-to-end human capital solutions company focused on helping employers find, hire and manage great talent. Combining advertising, software and services, CareerBuilder leads the industry in recruiting solutions, employment screening and human capital management. It also operates top job sites around the world. CareerBuilder and its subsidiaries operate in the United States, Europe, Canada and Asia. For more information, visit www.careerbuilder.com.



Comments - Make a comment
The comments are owned by the poster. We are not responsible for its content. We value free speech but remember this is a public forum and we hope that people would use common sense and decency. If you see an offensive comment please email us at news@thepinetree.net

What's Related
These might interest you as well
Local News

Calendar

phpws Business Directory

Photo Albums


Mark Twain Medical Center
Meadowmont Pharmacy
Angels & San Andreas Memorial Chapels
Bear Valley Real Estate
Gerard Insurance
Bank of Stockton
Fox Security
Bistro Espresso
Chatom Winery
Middleton's Furniture
Bear Valley Mountain Resort
Cave, Mine & Zip Lines
High Country Spa & Stove
Ebbetts Pass Scenic Byway
Sierra Logging Museum Calaveras Mentoriing
Jenny's Kitchen

Copyright © The Pine Tree 2005-2023