WHAT THE DATA SAY: 61% concerned about being laid off; automation fears double

By: Ray Day

CONTACT:

Ray Day
ray.day@stagwellglobal.com 

We wanted to share our latest consumer and business insights, based on research from Stagwell. Among the highlights of our weekly consumer sentiment tracking:

WORRIED ABOUT LAYOFFS

3 in 5 employed Americans are concerned about being laid off – a nearly 30% increase since 2019, according to our Harris Poll research with INTOO.

• 61% of employees are concerned about job loss, up from 48% in 2019.
• Automation fears have doubled since 2019 (12% today compared with 6% in 2019).
• 76% of employees believe most layoffs during the past few years could have been avoided with better business management from leadership.
• 69% of employees agree that “AI layoffs” are just an excuse for cost-cutting.
• 49% trust employees’ social media posts over CEO announcements when it comes to the real story behind layoff news.
• 52% would take a pay cut for guaranteed job protection from layoffs over the next two years.

IS AI STRESSING US OUT?

Users are more optimistic about AI usage and adoption than public discourse suggests, according to our National Research Group research.

• People frequently feel curious (18%), inspired (15%), happy (14%), excited (14%) and empowered while using AI – more so than stressed (6%), intimidated (5%) or confused (5%).
• Students and workers primarily use AI for searches and summaries on a topic (47%) and emails, texts and messages (41%).
• 43% use AI in their personal life to learn something new.
• Workers making less than $100,000 a year are more likely to say AI increases stress at work.

GEN Z = SIDE HUSTLES

Gen Z is opting for side hustles to combat uncertainty about today’s economy and a tough job market, according to our Harris Poll research featured in Axios.

• 57% of Gen Z have a side gig, compared with 21% of older generations.
• Two out of three adults under the age of 34 pursue an entrepreneurial venture.
• Recent graduates are struggling: College students’ optimism has fallen to the lowest level since tracking began in 2018.
• On the bright side, the number of Gen Z entering management is similar to previous generations at their age.

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