A study released by Bankrate.com found that only 24 percent of Americans have a six-month emergency savings cushion and 24 percent have no emergency savings at all. These statistics are sobering because 6.2 million Americans have been out of work for six months or more. Twenty-two percent of survey respondents have some savings, but not enough to cover three months’ expenses and 46 percent have at least three months’ expenses socked away. Based on the survey results, analysts say the majority of Americans still have much work to do in building an adequate emergency savings cushion.

Other findings from this year’s study include:

> Those most likely to have six months’ expenses in an emergency fund are higher-income households and people in their 50s and 60s, but even among these groups, at least half do not have six months’ expenses in an emergency fund.
> People younger than age 30 and the lowest-income households are the most likely to report having no emergency savings at all.
> Twenty-six percent of Americans are more comfortable with their debt now compared with 12 months ago. Just 19 percent of Americans report feeling less comfortable with their debt.

The study, which measures feelings of financial security among Americans, was conducted by Princeton Survey Research Associates International. Click here to view the study in its entirety.