WHAT THE DATA SAY: More than 50% of young people ready to post their salaries online

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 (fielded Apr. 14-16):

WORRIES ABOUT ECONOMY MODERATE

Today, 84% of Americans are concerned about the economy and inflation – down 4 points from last week and near December’s 82% rate.

• 79% worry about U.S. crime rates (down 4 points)
• 79% about a potential U.S. recession (down 3points)
• 69% about political divisiveness (down 7points)
• 68% about affording my living expenses (down 4 points)
• 68% about the War on Ukraine (down 4 points)
• 54% about a new COVID-19 variant (down 2 points)
• 48% about losing their jobs (down 2 points)

AMERICANS SOUR ON COUNTRY’S AND PERSONAL OUTLOOK

For the first time since last year, Americans’ overall view of the economy has declined, and 52% also believe their personal finances are suffering. That’s according to our latest poll with the Center for American Political Studies at Harvard University.

• Partisanship determines Americans’ view of the economy: 30% overall say the economy on the right track, with 54% of Democrats thinking so compared with 12% of Republicans.
• 52% think their personal financial situation is getting worse.
• 66% think the U.S. government has too much debt, and 55% think the government is spending too much.
• When told the national debt is $31 trillion, 65% want Congress to raise the debt ceiling only with restraints on future spending.
• Crime is becoming a more universal concern – with 86% saying crime is a serious issue right now.
• 48% think crime and safety are getting worse in their own communities.
• Americans blame rising crime in cities on the worsening economy (23%) and prosecutors who don’t enforce the laws (22%).

ARE YOU WILLING TO POST YOUR SALARY ONLINE?

Most Americans are still hesitant to discuss money with others – except young people, according to our survey with Empower.

• 62% of Americans say they don’t talk about money, even though 66% believe more open conversations around it are key to achieving “financial freedom.”
• 34% of Americans surveyed say they’d be willing to post their salary information on LinkedIn.
• Younger professionals are even more willing to do so – with 53% of Gen Z and 58% of Millennials saying they would be okay posting how much money they make online.
• That said, 68% say they avoid uncomfortable money discussions at work.
• 56% of those surveyed say they wish discussing salaries wasn’t taboo.
• 67% of workers say they feel comfortable asking for a raise.
• 74% of men feel comfortable asking for a raise compared with 59% of women.
• 50% of men feel comfortable talking about salary with co-workers versus 36% of women.

GENERATIVE AI CHANGING THE WAY WE VIDEOGAME

Are players ready to embrace AI in gaming? Most believe generative AI is here to stay and that video games might never be the same, according to Stagwell’s National Research Group’s new report, “Pressing Play on AI: A Game-Changing Power-Up?”

• 77% of players say they’ve heard the term “generative AI.”
• 60% expect AI to have a net positive effect on the industry.
• 73% believe game developers are likely to play a major role in blazing a trail for the development of AI technology during the next five years.
• 80% say studios using AI-powered tools need to take steps to ensure that AI they use are not plagiarizing the work of artists, voice actors, writers or other creatives.
• 78% believe it’s important that the use of AI in game development doesn’t push out creativity from the process.

READY TO TRAVEL ABROAD – EXCEPT FOR HEALTH INSURANCE

Americans say they are increasingly looking to travel outside the U.S. Yet many are unprepared for a medical event during their trip, according to our survey with GeoBlue.

• 77% of travelers agree that affordable access to quality medical care abroad is just as important as booking a great place to stay or the best flights.
• 87% know a medical event is a realistic possibility, yet 52% have an “it-won’t-happen-to-me” attitude.
• 46% believe domestic health insurance would cover an international medical event.
• 76% say they likely don’t have adequate health insurance coverage for international trips.

ICYMI

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

• Inflation Is Putting a Damper on Summer Travel, Survey Finds
• What brands can learn from Gen Z’s environmental awakening
• New Poll Shows Americans Actually Can Agree on Something: Trees