General Crisis for the 99% as a secular trend in capitalism Half of US Hourly Workers Have No Emergency Savings, Study Finds BY ELLA CERON July 20, 2022, 10:05 AM As inflation outpaces wage growth, nearly half of hourly workers have nothing to put into savings by the time their bills are paid. Eighty-three percent of hourly workers surveyed by the payday-advance app Branch said they had less than $500 in emergency savings, according to a report of 3,000 people released today. Nearly half of respondents said they had no emergency savings at all. That’s up from the 41% of respondents who said the same in the company’s 2021 survey, another sign that pandemic-era stimulus money and other savings measures have run out. Workers would save money if they could: When asked ... To read the full article log in. Learn more about a Bloomberg Law subscription