Market Insights

Recession Fears Are Affecting Employees Behavior On and Off The Job

UPDATED ON
April 5, 2023
Mployer Advisor
Mployer Advisor
— Written By
Print Friendly and PDF

Justworks has published some data from a Harris poll of more than 1,000 working adults which reveals widespread concern about looming economic downturn and behavioral changes among employees as a result.

Still, though more than 4 out of 10 respondents claim to be worried about losing their jobs and more than 1 out of 3 has started working longer hours in an attempt to reduce the likelihood of that possibility, an even greater percentage (52%) worry that recession is going to cause their company culture to change for the worse.

Further, more than half of respondents have already begun preparing for a potential recession by reducing their personal expenses, while more than 1 in 4 have taken on an additional side job to bolster their income.

You can find that survey analysis here.

Want more insights on how your employee benefits compare to companies in your region, industry, and similar employer size?
Download Your Custom Benefits Report Now
See How Your Employee Benefits Compare

Next Up

The Employment Situation for December 2024
The latest economic release from the Bureau of Labor Statistics reports that the U.S. job market rebounded after a sluggish month in October to add 227 thousand new jobs last month as the unemployment rate ticked up slightly to 4.2%.
Introducing Insights+ The Next Evolution In Employee Benefits Evaluation & Value-Capture Tools
‍We are excited to announce the launch of Insights+, a service that enables employers to see exactly how their benefits measure up against the competition.
Legal/Compliance Roundup - December 2024
Each month, Mployer collects and presents some of the most relevant and most pressing recent changes in law, compliance, and policy in areas related to employee benefits, health care, and human resources.