New research, undertaken by AMP for its 2016 Financial Wellness Report, reveals that financial stress is now a fact of life for more than one-in-four Australian workers.
The key findings from the research were as follows:
- Financial stress is highest in the accommodation and food services industry, with 35 percent of employees stressed. This is followed by healthcare and social services (32%) and administration and support services (31%). Twenty-six per cent of employees in retail jobs say they are financially stressed.
- Brisbane is the most financially stressed city in Australia with 30% of workers financially stressed. This is followed by Adelaide (25%), Perth (23%), Sydney (20%) and Melbourne (19%).
- The main triggers for financial stress are bad debt, mortgages and bills.
- 30% of females experience financial stress compared to 19% of males.
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