More than 80% of Americans agree financial insecurity is a major problem. In today’s uncertain economic climate, where business closures and mass layoffs have become the new normal, this finding may not be surprising. However, Commonwealth’s survey results come from the summer of 2019, not 2020, when unemployment held at 3.7%, the stock market boomed, and a number of sectors experienced notable job gains.

As our report demonstrates, even in this period of relative economic stability, a majority of Americans believed financial insecurity to be ubiquitous in the US. Moreover, three in four reported personal experience with financial insecurity at one point in their lives and 30% were currently experiencing it. The majority also believed that institutions–employers, government, financial institutions–have an important role to play in addressing worker financial security.

Perceptions of Financial Insecurity in America: A National Survey of Working People in the United States reveals findings from a nationally representative survey of 2,000 workers, across all income levels.

For media inquiries, please contact Jackie Jusko at jjusko@buildcommonwealth.org or by phone at 216-374-0945.