WASHINGTON — More federal workers feel financially stable than the rest of the U.S. workforce, according to a recent national survey.
A Gallup poll released this month found that 44 percent of federal employees described their financial well-being as “thriving,” compared with 34 percent of all other workers. The trend held true when comparing workers with similar income and education levels, with federal employees consistently showing greater rates of financial stability.
Twenty-five percent of U.S. government personnel earning less than $2,000 per month said they are thriving financially, compared with 15 percent among all other workers. On the higher end of the spectrum, 60 percent of federal employees earning $10,000 or more per month said they are thriving, compared with 54 percent outside of government.
In terms of education level, 35 percent of federal employees with a high school degree or less indicated that they are thriving, compared with 27 percent of all other workers. Similar differences occurred with higher levels of education.
The survey did not directly measure financial well-being in terms of salaries, benefits or overall compensation. Instead, it focused on “perceptions of standards of living,” such as cost of living, debt, affordability of basic necessities and family size.
In a summary of the results, Gallup said “it is possible for a person to have a higher salary but experience lower financial well-being,” and that those who experience high levels of stability “feel as if they can spend time and energy addressing other facets of well-being in their day-to-day lives.”
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