2022 State of Employee Finances
Continued COVID-19 Effect and Inflation Adds Up to Little Relief for Employees’ Financial Situation and Financial Stress
The COVID-19 pandemic took a toll on employees’ financial situation and their financial stress that has not improved much. The residual effect of getting by on less income, missing some payments and other financial challenges from the past two years has carried over to 2022. The COVID-19 pandemic might move to endemic status this year, but inflation and rising prices are now factored in. Wage and salary increases are not going to solve the situation because higher inflation and the increased CPI means that employees will have less spending power this year.
The Harris Poll, on behalf of Purchasing Power, conducted an online survey in March 2022 among 1,105 Americans nationwide who are full-time employees about their financial situation and their financial stress.
The data affords interesting insight into:
- How their households have been impacted financially over the past year and how they handled it
- What they are worrying about now
- What they expect things to look like in 2023
And perhaps, more importantly, it spells out the role employees believe their employers have in helping to improve their financial well-being.
Get a clearer picture of what employees are saying through these resources: