Number of Americans Living Paycheck to Paycheck Has Increased

Seventy-two percent of Americans would experience financial difficulty if their paychecks were delayed for a week, according to results from the 2022 “Getting Paid In America” survey conducted by the American Payroll Association (APA). This is a nine percent increase from the 63 percent of individuals who indicated they were living paycheck to paycheck in 2021 the survey.

“Now more than ever, employees should educate themselves on ways they can take hold of their finances,” said Dan Maddux, executive director of the APA. “More take-home pay can be used to boost their emergency savings now to be better prepared for the future.”

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The annual survey asked respondents how difficult it would be to meet their current financial obligations if their paychecks were delayed for a week. Approximately 20,079 out of 27,642 respondents to the question, 72 percent, said they would find it either somewhat or very difficult to meet their financial obligations.

“That a majority of respondents reported they would have at least some difficulty meeting current financial obligations if their pay is delayed shows how narrow a margin for error they have in managing their finances. On-demand pay programs assist workers with making it to the next payday without damaging their financial status,” said Michael Baer, CPP, special advisor at DailyPay.

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On its National Payroll Week website, the APA offers educational resources and tools to help individuals better understand how to get more from their pay, make strategic withholding decisions, and better plan for their financial goals today and tomorrow.

“Increasingly, we’re seeing leading organizations offer on-demand pay to support employee financial wellness, drive engagement, and boost their reputations as employers of choice,” said Seth Ross, general manager of Dayforce Wallet and consumer services at Ceridian.

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