Paycheck to Paycheck

I recently read an interesting Wall Street Journal article reporting that a growing number of companies are helping workers gain access to payroll advances and loans, reflecting concern over the impact money problems are having on productivity levels and worker retention. Walmart is among the companies that provide this benefit with the aim to help cash-strapped employees, many with damaged credit, cover unexpected expenses without resorting to high-cost debt. Shockingly, A recent study from the University of Chicago found that 51% of working adults in the United States would need to access savings to cover necessities if they missed more than one paycheck. Clearly Walmart and a long list of other employers have woken up to the fact that a majority of workers are having a lot of trouble simply getting by, never mind getting ahead. This is a distressing fact about our economy, and more even more disturbing when we observe that our Federal Government is incapable of addressing an economic situation that will eventually lead to further polarization, and ultimately, social unrest.