WHAT THE DATA SAY: 70% okay to do household chores while working remotely; IVF a new wedge word for 53% of country

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:

AMERICANS WORRY INFLATION IS HERE TO STAY

71% of Americans think price increases and inflation are sticky and are here to stay, according to our most recent poll with the Center for American Political Studies at Harvard University.

• 42% say inflation is the most important issue to them personally, up 4 points from January.
• 45% say their personal financial situation is worsening – an improvement from 64% who said the same in summer 2022.
• Overall, 32% of Americans say the country is on the right track (up from 30% a month ago), and 34% say the economy is on the right track (up from 31% a month ago).
• In another Harris Poll with Staffing Industry Analysts, 53% of U.S. workers say their paychecks are not keeping up with inflation.
• 66% of Gen Z and 67% of Millennials intend to request a raise this year due to inflation (compared with 51% of Gen X and 42% of Boomers).

HOMEOWNERS WISH FOR A RECESSION

Housing affordability is so difficult today that 64% of prospective home buyers are ready for a recession if it would reduce interest rates, based on our Harris Poll survey with Credit Karma.

• With mortgage rates still near 7% and home prices high, pending home sales have dropped to their lowest level in more than two decades.
• In fact, 82% say the country is grappling with an “unprecedented” housing affordability crisis.
• 61% who never have bought a home do not think they ever will be able to do so.
• Renters have been hit especially hard: 57% of renters describe their current economic situation as “poor” (compared with homeowners at 29%).

IVF IS THE LATEST ‘WEDGE WORD’

Add another acronym to the list of terms confusing and dividing Americans, based on our latest Harris Poll research.

• We have been tracking the terms that either divide or unite the country. Acronyms and labels like DEI and ESG have become like dog whistles: Americans hear them and react politically.
• IVF and fertility terms now have made the list. Among those familiar, fetal personhood (or laws that regulate pregnant women) is now the third most divisive term, with 69% saying it is more likely to divide people than unite them.
• IVF (in-vitro fertilization) also is polarizing to 53% of Americans – even though, in the same study, 90% of those familiar with the term believe people should have access to IVF to try having a baby.
• Other polarizing wedge words: underrepresented (up 8 points in negativity since December); ESG (up 13 points in negativity since December); and DEI (up 11 points in negativity since December).
• Part of the problem is a lack of understanding of the terms. Today, two thirds of Americans do not know what ESG is – yet 62% say “it’s bad.”

REMOTE WORK STUNTS CAREER ADVANCEMENT, EMPLOYEES SAY

Working from home is popular, but employees are paying the price for doing so, according to our Harris Poll survey with Bloomberg.

• 63% of employed Americans would prefer to work remotely in some capacity if it were up to them.
• Yet more than half say remote work is detrimental to career advancement.
• 50% of remote workers believe doing so hurts career progression – jumping to 57% for hybrid workers.
• 52% of hybrid workers returned to the office because of concerns about either layoffs or career advancement.
• 50% say they worry that not being in the office makes them vulnerable to job cuts and hurts chances for promotions.

ICYMI

In case you missed it, check out some of the thought-leadership and happenings around Stagwell making news:

• HARRIS POLL: 56% of Americans under age 60 who don’t have kids say they don’t plan to have them. For many, it’s because of the cost.
• STAGWELL MARKETING CLOUD: Understanding the ad tech ecosystem and how to harness its power.
• HARRIS POLL: How Many Docs Are Feeling Burned Out? Almost All of Them, Survey Finds
• HARRIS POLL: How brands can engage workout-obsessed consumers
• CODE AND THEORY: 3 ways to protect the Black community from AI
• CODE AND THEORY: ‘Rip up the Playbook Because AI is Rewriting It,’ says Code and Theory’s Head of Product Strategy