Americans are tipping less this year due to inflation and general economic unease, a new survey found.
Whether you're dining at a Michelin-starred restaurant or using a self-serve kiosk, most commercial transactions today conclude with an invitation to tip. But while the opportunity is ever-present, Americans are tipping less this year due to inflation and general economic unease, a new Bankrate survey found.
"We've hit an inflection point where people are getting annoyed about how much things cost, combined with a growing proliferation of businesses asking for tips," Ted Rossman, senior industry analyst with Bankrate, told CBS MoneyWatch."I think a lot of people are saying enough is enough."Gen Z, Millennials and men stand out for being the worst tippers, while older generations and women tip more generously, according to the survey.
Perhaps not surprisingly, the main factor influencing young adults' tipping habits is income — given that employees who are earlier in their careers generally have less money to go around. Since the pandemic, smaller businesses in particular have found it harder to find and retain workers, and many states' minimum wages have increased. That's increased the pressure on employers to keep raising pay for their own workers, many of whom are seeing their incomes eaten up by inflation.
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