According to new research, workers are increasingly opting to forgo insurance benefits from their employers so they can instead have bigger paychecks. Nearly 40 percent of companies say it’s a growing trend for employees to opt out of benefits like pension plans, life insurance or income protection in order to take home more money.

Another 18 percent of companies polled say they’ve also seen a drop in the amount of money staff are willing to contribute to their pension. “We’re witnessing several concerning trends that would point to many employees currently taking a very short-term view of their financial situation,” Marketing Officer Marco Forato told The Press Association. “Although there’s no denying that a lot of people are struggling financially as a result of the recession, workers should only opt out of long-term financial benefits as a last resort. It is vital that employees instead seek to protect themselves and their dependants by having robust financial cover in place.”

Officials say that while the workers may be getting a slight cash boost, they could be laying the groundwork for future financial problems. Not only are they jeopardizing their retirement plans but if they become ill and can’t earn a salary, their dependents will also be in trouble. Research shows that roughly one in three British workers would only be able to survive less than a month on the statutory sick pay which equates to about $100 a week.

New statistics show more people are asking for unemployment insurance which means employers are continuing layoffs. Applications for unemployment benefits reached 500,000 last week which was the highest since November 2009. The number marked a 12,000 increase according to the Department of Labor. Statistics show that it was the fourth increase in five weeks, which some say is a sign of economic instability.

According to a report by the Associated Press, home building companies and construction firms seem to be laying off at higher rates since the homebuyers’ tax credit expired. Other large amounts of layoffs are coming from the public sector as states attempt to balance budgets. “This is obviously a disappointing number that shows ongoing weakness in the job market,” Robert Dye, senior economist at the PNC Financial Services Group, told the Associated Press.

The jobless rate is sitting at 9.5 percent, the same level it’s been at for two months. According to the Associated Press, private employers had been adding about 100,000 jobs each month. Those requesting unemployment insurance reached a peak in March of 2009 as 651,000 people requested assistance. Currently 4.5 million people are receiving benefits, according to the Department of Labor.

Worker’s compensation insurance is a mystery to most. Most people are aware that if they get hurt at work that this will come into play and take care of them but too often they do not know more than that.

The truth is that worker’s compensation insurance is not always the best choice for everyone. You should know about it just in case it is ever your choice to make.