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Paycheck to paycheck normal for most workers

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in Compensation and Benefits,HR Management,Human Resources

More than three-quarters of workers—78%—are living paycheck to paycheck to make ends meet, and 26% don’t save any money at all. New research by Harris Poll and CareerBuilder found that 38% of employees said they sometimes live paycheck to paycheck, 17% said they usually do and 23% said they always do.

Further, 71% of all workers say they’re in debt—up from 68% last year.

Having a higher salary doesn’t necessarily mean money woes are behind you, with 9% of workers making $100,000 or more saying they usually or always live paycheck to paycheck. Fifty-nine percent in that income bracket are carrying some form of debt other than a mortgage. Twenty-eight percent of workers making $50,000-$99,999 usually or always live paycheck to paycheck, and 70% are in debt.

“As an employer, your employees’ financial problems become your financial problems,” said Rosemary Haefner, chief human resources officer for CareerBuilder. “Do what you can to help people keep their finances under control, such as matching 401(k) contributions or hosting financial planning seminars.”

A quarter of workers have not been able to make ends meet every month in the last year, and 20% have missed a payment on some smaller bills.

Employees' monthly savings

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