Employees less secure about jobs
WORKERS feel less secure in their jobs than at any time since the end of last year, according to a new report today.
A survey of 2,000 adults showed that personal job security and general employment prospects had deteriorated for the first time in three months.The number of people who felt their job was more secure than a year ago fell from 76% in February to 73% in March, while those who believed employment prospects generally had improved fell back by 1% to 26%.
Lloyds TSB Financial Markets said its research also showed that people believed interest rates will increase this year.
Trevor Williams, chief economist at Lloyds TSB Financial Markets, said: 'The more pessimistic outlook for employment is clearly reflective of higher interest rate expectations in the survey. This rising caution may help in part to explain the recent slowdown seen in retail spending.'
More than two-thirds of those questioned said they believed interest rates will rise, with only 7% expecting them to fall.