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Effects of the recession and slow economic growth continue to weigh down employee retirement confidence, despite recent economic improvement.

PwC’s 2012 Financial Wellness Survey found employees’ top financial concern is not having sufficient emergency savings for unexpected expenses, at 54 percent. Last year, just 25 percent expressed this concern. In addition, 37 percent said they are concerned about not being able to retire on time, compared to last year’s 18 percent.

Almost half of households, 49 percent, said it is difficult for them to meet their household expenses on time, resulting in more than half consistently carrying balances on their credit cards.

Other financial concerns included being laid off from work (22 percent), not being able to keep up with debt (14 percent), losing a home (7 percent), and not being able to afford children’s college (6 percent). Each of these concerns had an increase over last year.

As a result, employees’ financial stress remains high. Sixty-one percent said their financial situation is stressful, and 56 percent said their stress level related to financial issues has increased in the last 12 months.