(KMSP) - More than half (52 percent) of working Americans failed to use at least some paid vacation time this year, according to a new study by Bankrate.com. Unused vacation is particularly common among younger millennials, with 59 percent of workers age 18 to 25 leaving vacation on the table.
Vacation days left behind
The most popular responses for the number of unused days are:
7 to 10 days (30 percent)
4 to 6 days (21 percent)
1 to 3 days (15 percent)
More than 30 days (8 percent)
The median is 7 days and the average is 19.
No break for millennials
25 percent of younger millennials used none of their paid vacation days in 2016. Only 9 percent of older millennials (age 26-35), 6 percent of Gen-Xers and 7 percent of Baby Boomers are leaving vacation time on the table.
Rollover a factor
Many companies offer employees the option of rolling over unused vacation time into the next year, which 35 percent cite as their reason for not using all of their vacation days this year.
Other reasons for not using vacation time include:
Too much work (23 percent)
Enjoy working (16 percent)
Can't afford to go anywhere (13 percent)
Job security concerns (4 percent)
Show me the money
Given a choice between extra cash or additional paid time off, cash wins. 56 percent of working Americans would prefer a cash bonus equal to one week of pay instead of an additional week of paid vacation each year.