Survey Shows Americans Beginning to Feel More Financially Secure
Wednesday, September 28th, 2016
The number of employees living paycheck to paycheck has decreased to 63 percent, according to the 2016 "Getting Paid In America" survey recently conducted by the American Payroll Association. The result is the lowest recorded by the survey since 2003 and a four percent decrease from 2015 survey findings.
"The 2016 survey clearly shows that America's workers are feeling the positive impact from the country's economic growth in recent years," said Dan Maddux, executive director of the American Payroll Association. "While many American workers are still experiencing financial difficulty, the results show encouraging steps in the right direction."
The annual survey asked respondents how difficult it would be to meet their current financial obligations if their paychecks were delayed for a week. Nearly 63 percent said they would find it somewhat or very difficult to meet their financial obligations if their paychecks were delayed.
The percentage of Americans living paycheck to paycheck peaked at 72 percent in 2010, following the 2008 financial crisis. In recent years, this number has slowly been on the decline. This year's results are down from the 67 percent of participants who indicated they would be uneasy about a delayed paycheck in 2015.