Many Americans Face Financial Peril With a Job Loss
Posted at 12:14 p.m. on April 18, 2014
Gallup: Many working Americans would experience financial peril if they lost their current job, putting pressure on them to find a new job quickly. A substantial minority of U.S. workers say they could go just one week (14%) or one month (29%) before experiencing significant financial hardship if they lost their job.
Implications: “With long-term unemployment a serious problem in recent years, many U.S. workers are not in a position financially to go a month, or even a week, without finding a new job if laid off. That underscores the economic hardship that unemployment of any length can bring on U.S. families, particularly for younger and lower-income workers.”
“Gallup estimates that about 9% of workers are especially vulnerable, in that they think it is at least fairly likely they will be laid off but do not have the financial means to go more than a month without finding new employment.”