NU Online News Service, Sept. 3, 1:02 a.m. EDT

Concerns about the economy mean most U.S. workers are reducing their vacation spending, even as more workers plan to use all of their paid time off, according to a recent study conducted by The Hartford Financial Services Group, Inc.

The survey, which polled 736 workers from different generations, found that 56 percent plan to use all of their time off from work, an increase of 8 percent over last year's survey results. But 67 percent said they are most likely to postpone their vacation given the state of the economy.

Workers' cited personal financial situations as their top concern (55 percent), which was also the top concern in last year's Hartford survey. But the economy jumped up to the second biggest concern from fourth place (43 percent), and fear of losing their job jumped 16 percent to the third biggest concern (27 percent).

"We're seeing work issues take a backseat to people focused on keeping a steady income," said Marjorie Savage, absence management director in The Hartford's Group Benefits Division. "And our attention has broadened from gasoline prices–the number two stressor last summer–to our country's economy overall."

While one in three workers across all ages were concerned about their jobs, Generation Y (those between the age 18 and 29) "appears to be worried the most," according to The Hartford, having the biggest increase, along with Generation X (those between the age 30 and 44), over last year's results.

Additionally, Generation Y was the only group that said they plan to take less time off from work this year, rather than more. "This is the first time that Generation Y has experienced these types of economic and career issues," said Ms. Savage. "They are concerned about their job security and are addressing their layoff concerns by staying in the workplace more this year."

"We encourage workers to take steps to protect their physical and financial health, such as taking time to relax, as well as protecting their income," Ms. Savage said. "Income protection can provide peace of mind that's even more important during these stressful economic times."

NOT FOR REPRINT

© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.