Almost 80% of Americans Live Paycheck to Paycheck
Nearly 80% of Americans are living paycheck to paycheck, according to a survey released Thursday by CareerBuilder.
The results are as follows:
- 78% live paycheck to paycheck, up from 75% last year.
- 81% of women live paycheck to paycheck Vs. 75% men.
- 9% of workers making $100,000 or more live paycheck to paycheck.
- More than 1 in 4 do not contribute to savings each month.
- Nearly 3 in 4 say they are in debt, more than 50% think they always will be in debt.
“Living paycheck to paycheck is the new way of life for US workers,” CareerBuilder spokesman Mike Erwin said. “It’s not just one salary range. It’s pretty much across the board, and it’s trending in the wrong direction. Jobs have come back, but we haven’t seen salaries rebound.”
Further, 59% of Americans making $100,000 or more say they are in debt, and 70% of those making between $50,000 and $99,000 are in debt, according to the survey.
“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.”
The survey was conducted online within the US by Harris Poll on behalf of CareerBuilder among 2,369 hiring and human resource managers ages 18 and over and 3,462 employees ages 18 and over between May 24 and June 16, 2017.
There’s a 95% probability that the results have sampling errors of + or – 2%.