Most American workers say they are satisfied with their jobs, but the cost of living and higher wages are still major concerns, according to a survey conducted in collaboration with Echelon Insights for Economic Innovation Group (EIG).

The poll, which included 1,516 respondents and was conducted from September 6-11, found that if the average American worker could change one thing about their current job, it would mostly be more pay (55 %). If they could change one thing about the economy, it would be the total cost of living (45%).

“Workers are overwhelmingly satisfied with their careers, job security, even the amount of money they’re making at this point in their careers,” Economic Innovation Group CEO John Lettieri told Yahoo Finance. “But they are deeply dissatisfied with the rising costs of the goods and services and housing they need, and they are not very confident in the labor market itself as a place where they can go to find another equally good job if needed. “

Happy American workers

The EIG survey found that 71 percent of workers are either somewhat satisfied or very satisfied with their current job, while only 15 percent said they are dissatisfied. According to Lettieri, the findings show “a real consistency there that goes back many decades.”

“When you look at other long-term surveys that go back 30, 40 years, American workers consistently report high levels of satisfaction with their jobs,” he said. “It’s kind of counterintuitive … that the workers are so happy. So … I’m not really surprised that we’re seeing workers happy right now.”

The dropout rate is at its lowest level since 2020, with 3.1 million Americans voluntarily leaving their jobs in September. In October, the unemployment rate was 4.1%.

Lettieri described the current state of the economy as “worker friendly,” largely due to rising wages and low unemployment.

“I think they have good reason to feel pretty solid about their current circumstances, that the pain of the pandemic is largely behind us, even though it caused major disruption while it was at its peak,” he said, ” but that just brings us to this longer historical arc where workers tend to say they’re happy with their jobs, even in relatively weak economies.”

However, higher wages are a priority for these workers. In total, the salaries they exceeded inflation since the beginning of the pandemic. These statistics vary, however, when broken down by factors such as household size or monthly budgets.

“You hear so much about access to child care, better health care, better benefits,” Lettieri said. “Are these other things where they feel the most friction, or if they could change something, would it just come down to paying? And the answer is very clear: Overwhelmingly, workers rank their top choice as “pay me more.” So this is like Jerry Maguire found here: “Just show me the money.”

Financial stress influences voters

Anxiety about the total cost of living is another concern. The EIG survey found that 24 percent of workers are most stressed about the cost of products and services, while 21 percent cited the cost of housing as their biggest financial stressor.

Mortgage rates it is currently at 6.72% with the median selling price of existing homes at $404,500 and the median rent at $1,634. Notably, only 30% of Americans think it is a now is the right time to buy a house.

Kamala Harris voters (24%) are more likely than Donald Trump voters (17%) to cite housing costs as a financial stressor, according to the EIG poll.

“Harris voters are more likely to be in large urban areas, where the cost of housing has in many cases been the most significant in terms of growth in recent years,” Lettieri explained. “So we know that the cost of housing in cities like New York, San Francisco or D.C. (are) a major concern for anyone who lives in those metro areas, and Harris voters are more likely to be concentrated in those areas.”

Overall, the study found that workers are more likely to say the Democratic Party is better for their interests than the Republican Party. Specifically, 36 percent of voters without a college degree said the Democratic Party is better for their interests, compared to 33 percent who chose the Republican Party. Among college-educated voters, 44 percent said Democrats are better for workers than 29 percent who said Republicans are.

Lettieri noted that non-faculty workers “make up a much more significant portion” of Trump’s voting base, which is why such a disparity may exist.

“This realignment that we’re seeing widely in politics now presents this competition between the two parties, where they’re much more open with each other about who’s going to be the party of American workers, of the working class and so on. that this is really the background of the survey,” he said.

Adriana Belmonte contributed to this post.

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