Belfast Telegraph

Thursday 17 April 2014

Confidence in job security falls

Job security confidence has fallen over the past year, a new study shows

Confidence in job security has fallen over the past year, although few workers fear being unemployed for longer than six months if they were to be made redundant, according to new research.

A study among more than 2,600 adults by Legal & General found that confidence levels had fallen by 6% to 72%.

The report, published ahead of new unemployment figures tomorrow, also showed that 25 to 34-year-olds were most confident about their job.

Almost one in five workers said they worried about how they will maintain their current standard of living over the next three months.

Mark Holweger, director of Legal & General's general insurance business, said: "Our job security index paints a very different picture from a year ago, with confidence in job security falling from its highest level in October 2012 to its lowest level today.

"However, it's interesting that this low level of confidence in job security appears to be in conflict with the most recent labour market statistics, which show that the unemployment rate for the UK population is at a lower level than it was in October last year.

"The reality could be that Britons are still cautious about the improving market outlook, and with announcements on job losses and business closures still a focus of news headlines, this is still having an impact on people's confidence in their own job security and worries about how they will continue to maintain their standard of living."