Thursday, September 15, 2016

Benefits in Danger?

Are your benefits at work being cut back? According to a new Gallup poll, more U.S. workers say they worry about having their benefits reduced (30 percent) than worry about having their wages cut (20 percent), being laid off (19 percent), or having their hours cut back (17 percent).

Benefits cuts consistently have been the top worry since Gallup first asked the question in 1997, but it's easing from recent years. U.S. workers' concern about having their benefits cut spiked to 46 percent in 2009 before falling to 34 percent in 2014. The 30 percent who worry about benefits reductions today is essentially back to where it was before the September 2008 financial crisis.

Workers' concerns about having their wages cut or their hours reduced remain at least slightly higher than they were at any point before the recession. While the 19 percent worried about being laid off is also higher than just before the financial crisis (15 percent), it is similar to where that mark was in the late 1990s and early 2000s.

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