Americans Still Awash in $$, Job Worries

A news release said 55% of respondents listed personal financial concerns as the issue giving them the most stress, followed by 43% listing the state of the U.S. economy, and 27% citing the fear of being laid off.

The number one spot remained the same as last year, but the economy moved from the fourth place last year to the second place this year, while the job-loss worry jumped to number three with a 16% hike over 2008 results, the news announcement said.

Meanwhile, work issues dropped 12%, going from third place to fourth place in the list of worries.

Generational Concerns

While every age group had increased concerns about their job, Gen Y (ages 18-29) appeared to be the most fretful according to The Hartford. While fear of losing one’s job registered across all generations and genders, Gen X (ages 30-44) and Gen Y had the biggest increases in 2009 results.

“This is the first time that Generation Y has experienced these types of economic and career issues. They are concerned about their job security and are addressing their layoff concerns by staying in the workplace more this year,” said Marjorie Savage, absence management director in The Hartford’s Group Benefits Division, in the news release.

On another topic, The Hartford said more than half of U.S. workers plan to use all of their paid time off but are cutting back on vacation spending. The poll found that 56% of U.S. workers plan to use all of their time off, an increase of 8% over last year’s survey results, but when asked what they were most likely to postpone given the state of the economy, two-thirds (67 %) of survey participants said their vacation.

“Employees said they value the paid time-off that they receive from their employers, but they continue to be worried about their income and expenses. As a result, they plan to cut back on vacation spending,” said Savage.

The survey, conducted by Opinauri in April 2009, was conducted online and polled 1,019 U.S. adults age 18-64. The generational breakdown of survey participants was 283 Gen Y workers, 290 Gen X, and 446 Boomers (ages 45-65).