Recession Fatigue at the Office
- 66% of respondents think a recession would likely cause layoffs at their company. Of them, 81% think they’d be laid off.
- 37% of respondents don’t believe they could handle being laid off, whether financially, emotionally, or both.
The global pandemic has shaken many people’s financial security. Now that we may be on the verge of a recession, Americans are tired of planning for the worst. In this study, we surveyed working Americans to discover how many are experiencing the financial apathy of recession fatigue, how it’s affecting the workplace, and how you can manage it.
While many are rightfully worried about the future of their finances, many others have put their trust in themselves and their employers. A potential recession may have slowed raises and hiring, but most employees felt secure in their jobs and were confident they could handle being laid off. If you’re worried, take the advice of those surveyed:
- Set up an emergency fund
- Add extra to your savings account while you can
- Invest in insurance
With these steps, you can join the 75% of those who felt financially ready to face a recession.
We surveyed 1,088 people about their behaviors and feelings toward a possible recession. Among those respondents, 37% were women, and 63% were men. The generational breakdown was as follows: 8% baby boomers, 25% Gen Xers, 49% millennials, and 18% Gen Zers. For data from the managers’ perspective, we surveyed 347 of the 1,088 respondents who reported being a first-level manager or higher.
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