Concerns about job security are growing among U.S. consumers who are already stressed about rising prices, which is affecting spending habits, according to a new survey by J.D. Power.
The survey found that 18% of respondents report they are “highly stressed” about job security, with an additional 39% “occasionally” or “moderately” stressed about the prospect of losing their job. The figures are up from just six months ago, according to J.D. Power.
With concerns about job stability and rising prices, 81% report modifying their daily expenses, and not just on discretionary spending. Thirty percent said they cut back on groceries or skipped meals, 19% say they have delayed paying bills, and 16% say they skipped or delayed a medical visit, according to the survey. Gas prices are also a big concern for respondents
At the same time, the total share of respondents who said they are financially unhealthy is now 71%, which is the highest percentage since January.
