Collapsing Economy: Most Americans Feel Fiscally Unstable

By Emanuel Eisen | Friday, 22 July 2022 05:15 AM
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Around 6 in 10 adults are stressed about their next paychecks as capable of aiding themselves or their families as inflation drives the cost of living to increase.

Most of the workers, 58%, said they are concerned about their paycheck supporting their costs, according to a poll from the American Staffing Association.

The poll revealed that millennials (71%), Hispanics (69%), and workers with children under 18 (66%) are the groups with the greatest concern over the cost of living compared with their paychecks.

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“Workers are concerned about the effects of inflation, and they’re planning on taking action. Employers need to provide competitive compensation and work flexibility, and invest in employees’ professional development, if they want to keep and recruit quality talent in this labor market,” said Richard Wahlquist, President, and chief executive officer of the American Staffing Association, in a statement.

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The findings affirm a trend of anxiety over continued high inflation, as a poll published Sunday found 93% of voters are "very" or "extremely" concerned with inflation. Earlier this month, the Bureau of Labor Statistics announced the inflation rate was at 9.1%, the highest in four decades.

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This survey was administered online within the U.S. by The Harris Poll on behalf of ASA June 2–6, 2022, among a total of 2,027 U.S. adults age 18 and older of whom 1,165 were employed. Harris online polls' sampling accuracy is calculated using a Bayesian credible interval. For this study, the sample data are accurate to within + 2.8 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Megan Sweeney at 703-253-1151.

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The American Staffing Association is the voice of the U.S. staffing, recruiting, and workforce solutions industry. ASA and its state affiliates advance the interests of the industry across all sectors through advocacy, research, education, and the promotion of high standards of legal, ethical, and professional practices.

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The ASA Workforce Monitor is a periodical survey launched by ASA and conducted online by The Harris Poll among 2,000 or more U.S. adults age 18 and older. The survey series focuses on current workforce trends and issues.

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The Harris Poll is one of the oldest-running surveys in the U.S., tracking public opinion, incentives and social opinion since 1963. It is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. They align with clients in three primary areas: building 21st century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Their mission is to provide insights and advisory to help leaders make the best decisions possible.

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