3 in 5 U.S. workers say they live paycheck to paycheck

Three out of five U.S. workers say they’re living paycheck to paycheck, according to PNC Bank’s second annual Financial Wellness in the Workplace Report. Additionally, 31% of over 1,000 surveyed employees said they want early access to their wages.

Meanwhile, 78% of more than 500 U.S. employers surveyed reported that their workers are experiencing financial stress—an increase from 71% in 2023. However, access to financial planning benefits has improved, doubling from 14% to 28% year over year.

Among those carrying student loan debt, 30% of workers across generations—and 40% of Gen Z workers—said they feel “at a standstill” while trying to pay it off.

Generational Stress and Financial Goals Vary

PNC’s findings reveal distinct financial stress levels and goals across generations.

Gen Z workers reported the highest levels of personal finance-related stress, followed by millennials, Gen X, and baby boomers. Similarly, Gen Z also showed the greatest interest in staying with companies that offer robust financial wellness benefits, a trend that declines across older generations.

When it comes to financial priorities, Gen Z workers are primarily focused on improving their credit scores. In contrast, millennials, Gen X, and baby boomers all cite saving for retirement as their top financial goal.

“These varying financial goals and priorities across America’s generationally diverse workforce show how important it is to offer a mix of benefits that can appeal to a wide range of employee needs,” said Kaley Keeley Buchanan, senior vice president and head of PNC Organizational Financial Wellness.

Financial Wellness Disparities by Gender

Financial security also differs by demographic. According to Bank of America’s quarterly Participant Pulse report, a gender gap persists: men reported a financial wellness score of 53 out of 100, while women scored 46. The index measures factors such as managing long-term debt and protecting assets.