COMP NEWS – Recent data paints a bleak portrait of pay rates lagging behind inflation, with nearly two-fifths of surveyed workers reporting feeling more financial stress now than they did a year ago.
- With inflation putting pressure on their finances, 53% of U.S. adults said their paycheck is not keeping up, according to survey results released Monday by the American Staffing Association and The Harris Poll.
- Thirty-eight percent of the nearly 2,100 people surveyed in early January said they’re in a more stressful financial position than they were a year ago.
- “The data may project a soft landing for the economy, but the bank accounts of America’s workers are telling a different story,” Richard Wahlquist, chief executive officer at the American Staffing Association, said in a statement. “U.S. workers are understandably stressed about the adequacy of their paychecks and their ability to save for their future.”
Elsewhere, data is even more dismal. More than four out of five workers in one survey said their current wage is lagging behind increasing costs of living.
Recent data from job search site Monster painted an even gloomier picture. Eight-one percent of workers surveyed said their current wage hasn’t kept pace with the cost of living, according to the company’s 2024 Work Watch Report.
To read more about recent pay and inflation surveys, click here.
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