In the United States, a dominant narrative that having a job equals financial security persists, yet the majority of workers in America have jobs that do not allow them to achieve financial security. In fact, many workers lack benefits, have low earnings, and live in poverty. The type of job matters: workers with full-time, permanent positions and more robust packages of benefits do better than those without access to those options.

In a report developed together with its Consumer Insights Collaborative, the Aspen Institute Financial Security Program explains how work arrangements relate to worker benefit provisions, and how both work and benefits together determine if workers will have a reasonable shot at financial security. The research explores why there are persistent disparities in financial security outcomes for low- and moderate-income (LMI) workers, especially Black and other workers of color, women, and young workers, and sheds light on the conditions that do support financial stability for LMI workers.

Pandemic or not, full-time work with comprehensive benefits is becoming less common and less accessible. How should policymakers and business leaders design alternative ways to enable workers to achieve financial security? What are the on-ramps we can create as we build a new system of interoperable public and private benefits which could truly improve the financial security of people across America?

Read the full article about worker benefits at The Aspen Institute.