Inflation is taking a financial toll on state and local government workers in the U.S. according to new research.
A Harris Poll, commissioned by DailyPay, finds that the majority or 73% of government workers say inflation has had a “negative impact on their finances in the past year with over half (52%) saying they are having a harder time paying bills now compared to a year ago.”
More than one-third of the state and local government workers (35%) say they are “doing worse financially now compared to a year ago.”
Nearly all government workers (97%) say aspects of their finances would be positively impacted if inflation “continues to go down, with about half saying they’d be better equipped to save for the future (52%) and a similar proportion (48%) noting it would be easier to pay bills on time.”
Along with a decline in inflation, a majority say “access to their pay when they earned it would have a positive impact on their finances.”
Almost 8 in 10 government workers (79%) say aspects of their finances would be easier if they had access to their “pay when they earned it, with the most common being paying down their debt (35%) and covering unexpected expenses (34%).”
And one third (33% each) feel they could more easily “pay bills on time, better save for the future, and feel more in control of their finances.”
Alex Haig, Vice President of Public Sector, DailyPay said that earned wage access has proven to be a “positive, consumer-friendly, low-cost or no-cost solution in helping millions of Americans in the private sector pay bills on time and avoid harmful credit products, such as high-interest predatory loans, to make ends meet.”
Haig added that this new research shows “that earned wage access can be helpful to public sector employees who are still financially challenged during these uncertain economic times.”
Survey Methodology:
This survey was conducted online within the United States by The Harris Poll on behalf of DailyPay “from October 29-31, 2024 among 3,048 U.S. adults ages 18 and older, among whom 1,651 are employed FT/PT, of which 133 are government workers.”
The sampling precision of Harris online polls is “measured by using a Bayesian credible interval.”
For this study, the sample data is accurate to “within +/- 2.5 percentage points using a 95% confidence level for total Americans, and accurate to within +/- 9.7 percentage points using a 95% confidence level for government workers.”
As covered, DailyPay, Inc. is transforming the way people get paid.
As a worktech company and the industry’s earned wage access solution, DailyPay uses an innovative technology platform to help America’s employers build “stronger relationships with their employees.”
This voluntary employee benefit enables workers to feel motivated to work harder and stay longer on the job while “supporting their financial well-being outside of the workplace.”
DailyPay is based in New York City.
