A LendingClub report shows the number of people in the US living paycheck to paycheck rose from 60% in October to 63% in November, only 1 percentage point below March's record high. People whose incomes are above six figures have not been exempt from the pressure, with 47% saying they were living paycheck to paycheck last month, compared with 43% in October, according to the report.
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Job positions specifically advertised as being office-based have increased, reaching a 19-month high of 4.2% last month, according to the job search engine Adzuna. Meanwhile, postings for remote jobs declined to 13.8% of all job listings last month, down from 15.4% in August.
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A Gartner survey showing only 32% of employees feel like they're paid fairly is another reason employers should conduct salary audits to close gaps, be transparent about pay structure and offer benefits based on employees' preferences, HR leaders and consultants say. "Understand that the skill set they're hiring for and the skills that they have internally need to constantly be reviewed for what the market is bearing for those types of roles," says Aaronde Creighton, chief diversity officer at the Leadership Circle.
Leaders can inspire -- and thus retain -- their top team members by making it clear how their work fulfills the company's purpose, showing enthusiasm and making sure they are facing appropriate challenges, writes Reiner Lomb, founder and CEO of BoomerangCoach. "Setting challenging yet achievable goals helps to overcome apathy that can lead to 'quiet quitting' and to inspire more engagement," Lomb writes.
Some strange Guinness World Records were set this year, including by Vermont teenager Ariana Wunderle, who set a new record for the longest walk on a tightrope in high heels, Lim Kai Yi of Malaysia, who put a Mr. Potato Head together in 5.43 seconds, and David Rush, who earned his 250th Guinness World Records title by blowing a pea more than 84 feet in one breath. Rush had held that title previously but reclaimed it after others broke his pea-pushing record.
Today’s top story talks about how inflation is causing a growing number of Americans – even those with six-figure salaries – to live paycheck to paycheck. It goes on to give advice about what people can do to get and keep their finances on track.
It made me wonder: Will we see more employers adding personal finance management tools into their benefits packages? Many employers offer financial advisement as part of their benefits. That’s fantastic. But will we see them also paying for services like YNAB (You Need a Budget) or similar tools to help their employees become better budgeters?
