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ARLINGTON, Va., June 16, 2022 (GLOBE NEWSWIRE) — Three in 10 U.S. workers (30%) are struggling financially, and more than two in five workers (43%) are having difficulty meeting basic needs, according to research from the 2022 Global Benefits Attitudes Survey by WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company. The survey also found a significant number of employees deferred medical care last year because of time constraints, COVID-19 concerns and cost reasons.
Employee financial wellbeing has been deteriorating since the start of the pandemic. According to the survey, more employees are living paycheck to paycheck — 41% this year versus 38% in 2019. Among workers earning $100,000 or more, the number of employees living paycheck to paycheck doubled from 18% in 2019 to 36% this year. Over half of workers earning less than $50,000 (52%), single parents (53%), and those in poor or fair health (57%) are also living paycheck to paycheck. Additionally, employees living paycheck to paycheck are almost twice as likely to leave their employer for a 5% raise (48%) compared with those not living paycheck to paycheck (29%). The survey of more than 9,600 U.S. workers was conducted during December 2021 and January 2022.
Financial issues are widespread, according to the survey. Many workers reported having difficulty accessing or paying for…
