Aug 11, 2011

Number of workers living paycheque to paycheque at pre-recession levels

Female workers have more trouble making ends meet: Survey

Forty-two per cent of workers in the United States usually or always live paycheque to paycheque, down slightly from 43 per cent in 2010 and in line with levels seen back in 2007, according to a CareerBuilder survey.

Workers making six figures are seeing improvements as well, found the survey of 2,534 hiring managers and 5,299 workers. Fourteen per cent of workers making six figures said they live paycheque to paycheque, down from 17 per cent in 2010. Six per cent reported they can’t make ends meet every month, an improvement from eight per cent last year.

Female workers continue to struggle more with personal finances than their male counterparts. Forty-six per cent of female workers and 38 per cent of male workers said they live paycheque to paycheque. Nearly one-quarter (24 per cent) of female workers said they have missed a bill payment over the last 12 months, higher than male workers at 17 per cent.

“A better employment picture in the U.S. has brought more steady incomes into households and workers are paying much closer attention to spending decisions and savings,” said Rosemary Haefner, vice-president of human resources at CareerBuilder. “The majority of U.S. workers (72 per cent) reported they are more fiscally responsible since the recession and have made a variety of changes to their living and spending habits.”

However, workers said they would not give up the following regardless of their financial concerns:

•internet connection (56 per cent)

•driving (46 per cent)

•mobile phone (42 per cent)

•cable TV (27 per cent)

•going out to eat (11 per cent).

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