The study explores the relationship between savings and employment stability using the Survey of Consumer Finances (SCF) of 2022 and found that higher expectations of remaining with the current employer are associated with a reduction in savings. Additionally, net worth and having a college degree are associated with higher savings amounts, but age has the opposite relationship. The study also finds evidence that higher employment stability increases the odds of using other options to address financial needs rather than using their savings, specifically by working more. These results are relevant to the recent government intention in the US to improve the emergency savings of households with the SECURITY Act of 2022.
