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A survey conducted by The Harris Poll and commissioned by HR technology platform Justworks revealed the top recession fears of working parents. The Recession Watch and Workplace Behavior Snapshot surveyed parents about a potential recession since economists are predicting a 70% chance of economic downturn this year. While many working parents have returned to full-time, salaried work since the start of the pandemic, experts predict another influx of workers looking for supplemental income in the gig economy – driven by the current economic landscape and its challenges.
Working parents were more likely to report they changed their behavior at work to avoid being laid off, including working longer hours than employees without children under 18. Additionally, when compared to employed adults without kids under 18, working parents are more likely to fear:
- worsening company culture (56%, vs. 48% of non-working parents),
- reduction in offered benefits/perks (54%, vs. 44% of non-working parents),
- reduction in salary (51%, vs. 42% of non-working parents), and
- getting laid off (48%, vs. 38% of non-working parents).
Related, the majority of working parents are looking for better employment options in 2023, even though they’re worried that there aren’t as many job opportunities available to them in this economic environment. Data from the State of Women in the Labor Market 2023 supports this finding- having children lowers a working mother's employment rates, with those with younger children experiencing a larger impact.
