Financial stress among employees increased significantly last year, according to a new survey, with 23 percent reporting "high" or "overwhelming" levels of financial stress compared to only 18 percent in 2012 and 19 percent in 2011.
The report, from Financial Finesse, a provider of workplace financial wellness programs, also found a shift in the causes of financial stress, with fewer employees citing external factors such as the stock market and U.S. economy as the main cause of their financial stress. More employees cited internal factors such as not having control over their finances or thinking they will be unable to meet their future financial goals. The percentage of employees citing the U.S. economy and stock market as the main cause of financial stress dropped from 47 percent in 2012 to 43 percent in 2013. The percentage of employees who reported concerns of not being able to meet future financial goals as the main cause of their financial stress rose from 35 percent in 2012 to 42 percent in 2013.
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