Workers are getting very worried about losing their jobs as financial fears rise

By Venessa Wong

Job security, once a middling concern, is top of mind for workers heading into 2026

Job security rose from being U.S. workers' 10th-most-pressing concern in 2021 to their No. 2 concern in 2025, according to Mercer surveys.

Job security rose to workers' second-most pressing concern this year, after covering their monthly expenses, according to a new survey by Mercer.

While "covering monthly expenses" had been the leading concern for the past three annual surveys, fears around job loss jumped from seventh place in 2023 to second place in 2025, where it was tied with being able to retire and work-life balance. Mercer did not conduct this survey in 2024.

The results are the latest reflection of workers' individual sentiment decoupling from broader economic figures. Data released on Tuesday showed GDP grew 4.3% in the third quarter (before the government shutdown). Economic growth may be positive, but "that's not what people are feeling. When you go to the grocery store and you're shocked at how much that bill is every time, that hurts," Sean Connelly, Mercer's U.S. & Canada total reward-preference research lead, told MarketWatch.

While overall consumer spending increased in the third quarter, research from Mark Zandi, chief economist at Moody's Analytics (MCO), earlier this year found that the top 10% of income earners now account for half of consumer spending. Zandi later reported in October that 22 states are in a recession and 13 are treading water.

As ongoing inflation and market volatility add to a sense of economic uncertainty, workers "look at the economy, they look at their company, [and wonder], 'Is my company going to be successful or not?'" Connelly added. "We can definitely count on people continuing to feel the pressure of different macroeconomic issues" in 2026.

Related: If the economy is good, why do some Americans still feel like everything is 'falling apart'?

The time when worries about physical and mental health eclipsed workers' money concerns, as they did in Mercer's 2021 survey (when job security ranked 10th and monthly expenses ranked ninth), are well behind us now. Financial worries have gradually taken over its list of employees' biggest issues since inflation spiked, the job market stalled and the rise of AI threatens to disrupt how people work. This year, Mercer polled more than 4,500 U.S. employees in September.

Last month, the U.S. unemployment rate climbed to a four-year high of 4.6%, with job growth being highly concentrated in the health sector. In line with this trend, consumer views on the labor market were "weaker in December," according to a new survey by the Conference Board. More people now say their family's current financial situation is "bad" than "good," the survey found.

Meanwhile, in the December report from the University of Michigan Surveys of Consumers, 63% of people said they expect unemployment to continue rising next year. Sentiment was nearly 30% below the level in December 2024 "as pocketbook issues continue to dominate consumer views of the economy," the report said.

See also: Americans say the economy is lousy, but their spending habits say the economy is pretty good. What's going on?

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-Venessa Wong

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