Half of Hourly Workers Have No Emergency Savings at All

As inflation outpaces wage growth, nearly half of hourly workers have nothing to put into savings by the time their bills are paid.

Eighty-three percent of hourly workers surveyed by workforce payments platform Branch said they had less than $500 in emergency savings, according to a report of 3,000 people released today. Nearly half of respondents said they had no emergency savings at all. That’s up from the 41% of respondents who said the same in the company’s 2021 survey, another sign that pandemic-era stimulus money and other savings measures have run out.