Americans are facing the current inflationary environment with a growing degree of dread, according to a new survey that found nearly six in 10 U.S. workers were concerned their paycheck was inadequate for supporting their households.
In the latest American Staffing Association Workforce Monitor survey that polled 2,027 adults, 58% of employed respondents stated their paycheck is not enough to support themselves or their families. This number was even higher for Hispanic workers (69%) and for parents with children under 18 (66%).
In order to address this situation, 28% of respondents said they planned to search for a new job in the next six months, while 27% planned to start a second job to supplement their income and 20% planned to seek a raise from their current employer.
However, the search for new work in response to inflation skewed to younger generations: 40% of employed millennials and 36% of Gen Z plan to look for higher-earning jobs in the next six months, compared to 13% of employed baby boomers. Age discrimination is perceived barrier for baby boomers, with 46% of employed respondents in this demographic stating age is a factor that could prevent them from getting a new job.
“Workers are concerned about the effects of inflation, and they’re planning on taking action,” said Richard Wahlquist, president and CEO of the American Staffing Association. “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.”
Photo: Ken Teegardin / Wikimedia Commons
