2023 State of Public Sector Employee Finances

2023 Financial Wellness Survey Highlights

Public Sector Employees Straining Under 2023 Economic Realities Look to Employers for More Immediate Financial Help

As employees continue to navigate rising inflation and economic uncertainty, among those struggling the most are those working in the public sector. 83% of American government and university employees experience financial stress, whether physical, mental or emotional. Moreover, 50% feel more financial stress than they did last year during the pandemic, and 65% expect this stress to remain or increase in 2024.

In its third annual survey covering employee financial wellness, Purchasing Power conducted targeted research specifically among public sector employees to better understand their unique financial needs and concerns, and to address solutions that can help meet their more immediate financial challenges.

Conducted during February 2023, the study explored the financial wellness of over 500 U.S. public sector employees on topics including inflation, cost of living, financial stress, unexpected expenses and more. Respondents cover all age groups (18 and older), regions and genders.

The resulting data affords interesting insight into:

  • How financial stress affects public sector workers both at home and on the job
  • The key financial struggles and challenges public sector employees are facing today
  • What financial well-being solutions public sector employees want from their employer

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If you're interested in learning more about Purchasing Power and its financial wellness solutions, please contact us here.

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