Job security concerns drive 36% of American workers to cancel or delay major purchases

More than one in three American workers are delaying or canceling major purchases like homes or cars because of their feelings about job security. This shift in consumer behavior is a result of a broader anxiety. 27% of workers now say they are either somewhat or very concerned about their job security, with 32% reporting they are more concerned than they were six months ago.

This anxiety translates into immediate financial instability for a subset of the population. 28% of workers who are concerned about their job security have missed or been late on a recent housing payment. Overall, 17% of workers have either missed a rent or mortgage payment entirely in the last three months or been late.

The impact extends to the future. 15% of workers say they are likely to be late on their mortgage or rent in the next three months, and 13% of workers are likely to miss a housing payment entirely in the next three months.