Lloyds TSB: Job security confidence hits new low
www.moneynews.co.uk > General finance > Lloyds TSB: Job security confidence hits new low
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Lloyds TSB: Job security confidence hits new low
Mon 4th Aug 2008
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Almost a third of the 2,000 people polled felt their job was less secure than 12 months ago.
One-tenth said job security was better, while 61 per cent said it was unchanged.
The number believing prospects are better is now 40 per cent lower than it was in September last year.
Consumers also predict increases in interest rates and prices of food and fuel.
Trevor Williams, Lloyds TSB chief economist, said the drop in confidence and expectations of increased inflation formed a "lethal cocktail for consumer spending”.
He added that if people felt unsafe in their employment and pressured by higher prices "then demand for discretionary purchases will naturally slow”.
Office for National Statistics data shows that the employment rate is increasing, the unemployment rate is "flat” and inactivity is falling.
The number of people claiming Jobseeker’s Allowance has risen and the number of job vacancies has fallen.
Related News : General finance |
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Related News : LloydsTSB |
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