Number of the day: inflation’s effect on emergency savings

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Thanks to rising inflation, more than eight in 10 hourly workers (83%) have less than $500 saved for an emergency, and nearly half (48%) have nothing saved for an emergency (48%)—a 7% increase from last year, according to new findings from Branch. The instant payment benefit firm—which surveyed more than 3,000 hourly employees across a variety of sectors including food service, logistics, retail and healthcare—found that workers cited gas/fuel (82%), food/groceries (82%) and home/rent prices (57%) as the areas of their personal finances most affected by inflation.

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What it means to HR leaders

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