American workers are feeling stressed

In addition to personal financial stress caused by the recession, many American workers are also bearing the burden of their employer's financial problems.

According to a study by The Hartford Group Benefits, 37% of consumers said they feel they have experienced ‘severe’ financial impact due to the recession.  To add to the pressure, consumers are also expected to work harder and longer.  The Harford Group study found that:

  • 24% have additional work or an increased workload;
  • 17% feel as though they need to put in more hours at work; and 
  • the majority (72%) feel moderately stressed with one-third feeling very or extremely stressed at work.
And speaking of working more, according to the U.S. Census Bureau, 7.6 million Americans have more than one job. Of these, 4 million work full time at their primary job and part time at their other job.

Unfortunately, working longer and harder isn't necessarily beneficial to employees or their employers.  When asked how stress is impacting their work environment, employees’ top answers were:

  • having less patience with coworkers (38%); and
  • taking longer to complete work (19%).

If you are facing financial and work-related pressure, check out these stress-handling tips offered by Renee McGruder.  You might also enjoy reading:

Debt repayment can improve your health

Financial problems put workers' health at risk

Employees are stressed by retirement planning and debt

 

Kim McGrigg is the former Manager of Community and Media Relations for MMI.

  • The Consumer Federation of America (CFA) is an association of nonprofit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education. Today, nearly 300 of these groups participate in the federation and govern it through their representatives on the organization's Board of Directors.
  • The National Council of Higher Education Resources (NCHER) is the nation’s oldest and largest higher education finance trade association. NCHER’s membership includes state, nonprofit, and for-profit higher education service organizations, including lenders, servicers, guaranty agencies, collection agencies, financial literacy providers, and schools, interested and involved in increasing college access and success. It assists its members in shaping policies governing federal and private student loan and state grant programs on behalf of students, parents, borrowers, and families.

  • Since 2007, the Homeownership Preservation Foundation (HPF) has served as a trusted, neutral source of information for more than eight million homeowners. They are partnered with, and endorsed by, numerous major government agencies, including the U.S. Department of Housing and Urban Development and the Department of the Treasury.

  • The mission of the U.S. Department of Housing and Urban Development (HUD) is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD works to strengthen the housing market in order to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; and build inclusive and sustainable communities free from discrimination.

  • The Council on Accreditation (COA) is an international, independent, nonprofit, human service accrediting organization. Their mission is to partner with human service organizations worldwide to improve service delivery outcomes by developing, applying, and promoting accreditation standards.

  • The National Foundation for Credit Counseling® (NFCC®), founded in 1951, is the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.