Summer vacations in jeopardy if economy continues to plummet
If the US economy continues its slide, watch out for vacations. Nearly half of employees who plan a trip this summer say they will reduce or cancel plans to save money if things don’t get better.
The Harris Interactive Survey released by Glassdoor.com also found that an even higher percentage of younger workers are worried about the economy. Slightly more than half, or 52 percent, of employed adults between the ages of 18 and 34 will change their plans if the economy continues to worsen.
The survey also found that older workers are the ones least likely to give up their vacations. Only 36 percent of those ages 55-plus say they will change plans if the economy does not improve.
Why are younger workers so willing to go vacation-less?
“This is likely due to financial means and job security,” Robert Hohman, co-founder of jobs finder Glassdoor, told Portfolio.com. He added:
“Younger workers tend to have lower income and less savings so changing market conditions could impact their job and bank account whereas older workers likely have higher income and more savings so they aren’t as sensitive to the recent volatility."
By David Wilkening
David
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