Filed Under:Life Insurance, Life Planning Strategies

Principal survey: workers foresee improving economy

Workers think the economy will take a turn for the better in 2013, according to a new report.

Principal Financial Group, Des Moines, Iowa, published this finding in its latest Principal Financial Well-Being Index. Conducted online by Harris Interactive, the survey polled 1,103 employees at companies with 501-1000 employees.

The report reveals that more than four in 10 workers (43 percent) think the economy will take a turn for the better in 2013, up from 32 percent during the last quarter.

About a third of employees think the economy will stay the same (31 percent), while a quarter of employees (27 percent) say the economy will worsen to some extent next year.

Despite growing confidence in the economy, 57 percent of employees report being highly stressed about the economy, compared to 39 percent of employees at companies with 10-500 employees.

Compared to last quarter, more employees (42 percent, up from 32 percent) are stressed about the economy, while fewer employees (36 percent, down from 42 percent) are stressed about their personal finances.

Over two out of five employees (42 percent) indicate they are highly stressed about the economy. And around a third of employees are stressed about their personal finances (36 percent) or their job (31 percent).

Employees who use a financial professional (26 percent), are less likely to be highly stressed about their personal finances than employees who do not use a financial professional (39 percent).

Nearly two-thirds of employees (63 percent) surveyed view the current economy as unhealthy to some degree. A quarter of employees (26 percent) see the economy as neither healthy nor unhealthy, while only 11 percent of employees think the economy is currently in a healthy state.

Three out of five of the respondents (59 percent) are worried about the health of the economy. Another third of employees (36 percent) indicate they are somewhat worried about the economy’s health.

Only five percent of employees are not at all worried about the economy’s health, the report states.

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