Concerns about general well-being at work are lower than they were a year agoaccording to the results of the EBRI/Greenwald 2024 research Well-being at work survey.

The researchers surveyed 1,505 full-time and part-time American workers between the ages of 21 and 64.

“Well-being concerns are declining, yet half still express at least moderate concern about their financial well-being,” according to the survey’s authors.

Fewer respondents expressed concern this time about the economy entering a

recession and impact on personal finances in the next 12 months (80% vs. 85% in 2023).

Forty-three of this year’s respondents indicated they believe the U.S. economy is currently in a recession. However, fewer respondents than last year reported layoffs or reduced hours (23% vs. 30% in 2023), and fewer reported having difficulty managing multiple financial priorities (52% vs. 59% in 2023).

“Furthermore, workers are more likely to be prepared to handle a $500 windfall than in 2023 and fewer agree that their retirement plan savings are the only significant emergency savings they have “, according to the report.

Even so, three-quarters of respondents noted that they have a significant amount of debt, mostly from mortgages.

“Among those with credit card debt, many use their credit cards to purchase necessities rather than luxuries,” the report said.

Medical debt was closely related to a medical emergency (38%), prescription drugs (38%), or chronic illness (28%). Twenty-six percent of those for whom medical debt was a problem cited mental health as a contributing factor.

More than half of survey respondents (56%) said they were very or extremely satisfied with their current jobs, 31% said they were somewhat satisfied, and 14% said they were not at all satisfied.

“Employees report similar satisfaction with their benefits package as in previous years, with the top improvements being greater employer contribution and financial wellness benefits/resources,” according to the report.

Forty-two percent of respondents indicated they would like their employers to advise them on retirement planning, followed by advice on how to build emergency savings (34%) and how to budget, reduce debt or manage finances personal (33%). .