low unemployment rate, US employees still experience financial stress and struggle at work, according to a salary study.
Inside The Wallets of Working Americans," more than 40 percent of US employees are dealing with financial stress, eclipsing work, health, and relationship stress. The study was conducted by Salary Finance, the leading global provider of financial education and salary-linked savings and loans for employees.
financial stress on them. Findings suggest that American employees who are financially stressed are 10 times more likely than those who are not to perform poorly at daily tasks.
Data shows that 30% of Americans are used to run out of money before their salary arrives. With this, a growing number of Americans resort to high-cost sources of credit, such as credit cards, payday loans, and overdraft fees.
"There’s a false narrative in the United States that is worrisome. Economists expect the gross domestic profit (GDP) to increase by one to three percent in 2020, unemployment is 3.5 percent, and 145,000 jobs were added in December," said Dan Macklin, Chief Executive Officer, US, Salary Finance.
"Businesses have a tremendous opportunity to help employees with their financial wellness," Macklin said. "In spite of the struggles many Americans face, those with financial stress prioritize getting out of debt above everything else and are motivated to save money in the future."
