Nearly three-fourths of American workers say that the cost of living is outpacing wages, according to a new report. Bank of America’s 12th annual Workplace Benefits Report, “Navigating a New Era of Financial Wellness,” noted that more American workers are feeling pressure to their “financial wellness” because of soaring inflation.
According to a news release announcing the results, “71% feel the cost of living is outpacing growth in their salary or wages. This is having an impact on employees’ overall feeling of financial wellness.”
The percentage was up from 58% in February. In addition, 80% of workers are concerned about inflation, regardless of age, gender, race, or income.
