More Americans Living Paycheck to Paycheck

Mon Sep 15, 2008 3:37pm EDT

* Reuters is not responsible for the content in this press release.

SAN ANTONIO, Sept. 15 /PRNewswire/ -- Seventy one percent of American
employees are living paycheck to paycheck, according to results released today
from the 2008 "Getting Paid In America" survey.
    The online survey by the American Payroll Association asked respondents
how difficult it would be to meet their current financial obligations if their
paycheck were delayed for a week.  An overwhelming 31,946 of more than 45,000
respondents said they'd find it difficult to meet their financial obligations
if their paycheck were delayed for just one week.  This is a four percent
increase from 2007, when 67 percent of respondents reported living paycheck to
paycheck.
    "The results clearly indicate that Americans are finding it difficult to
save money," said Dan Maddux, executive director of the American Payroll
Association.  "As the cost of everything continues to rise, American employees
should talk to their payroll departments about free programs like flexible
spending accounts, which will help them pay for everyday expenses like medical
and child care."
    Savings with flexible spending accounts can easily total more than $3,000
per year for the average family.  Employees can save up to 35 percent off the
cost of daycare and qualified summer camp for kids, elder care for aging
parents, and everything from contact lenses to doctor's visits -- even
over-the-counter medical needs like aspirin and Band-Aids.
    "Flexible spending accounts are just one more way we can help employees
better manage their benefits and expenses," said Ed Bernice, CFO of WorkForce
Software.
    The "Getting Paid In America" survey was held in conjunction with APA's
annual public awareness campaign, National Payroll Week (NPW), held annually
the week of Labor Day. More than 45,000 employees responded to the survey,
providing insight into how workers are paid in America. For complete survey
results or more information on the National Payroll Week awareness campaign,
visit http://www.nationalpayrollweek.com.
San Antonio - New York - Washington, D.C. - Las Vegas
 Established in 1982, the American Payroll Association (APA) is the nation's
    leader in payroll education, publications, and training. The nonprofit
 association conducts more than 300 payroll training conferences and seminars
  across the country each year and publishes a complete library of resource
  texts and newsletters. Every year, nearly 20,000 professionals attend APA
     training sessions. Representing more than 23,000 members, APA is the
     industry's highly respected and collective voice in Washington, D.C.
             Visit APA online at http://www.americanpayroll.org.
SOURCE  American Payroll Association

Mark Coindreau of American Payroll Association, +1-210-226-4600, ext. 2277,
fax, +1-210-224-2028, MCoindreau@americanpayroll.org
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