Workers still concerned about redundancy

The latest figures from Legal & General's Job Security Index shows that confidence in job security among UK workers is at its lowest level since the Index began in January 2012.

Just 72% of UK workers say they are confident in their job security, which is a 2% decrease since last quarter's results in April 2013 and a 3% drop for the year since July 2012.

This decrease in confidence is shown across both part-time and full-time workers. Nearly two thirds, (63%) of part-time workers said they feel confident about their job security, a 9% decrease since October 2012, when the figure was at its highest at 73%.

Confidence in job security among full-time workers shows a fall of 5% since the high in October last year, with nearly three quarters, (74%) of full-time workers saying that they are confident about their job security. The gap between part-time and full-time workers' confidence in their job security is at 10%, the largest difference since the Index began in 2012.

Mark Holweger, Director of Legal & General's general insurance business said: "It's a worrying reflection of Britain's difficult job market that our Job Security Index shows confidence is the lowest since our research began. Over a quarter, (26%), of working adults are not confident about their current job situation.

“However, there are some indications that despite this lack of confidence, the situation could actually be improving. Over half, (54%) of working adults said that none of their friends and family had been made redundant in the last three months - a 2% increase from last quarter. So while confidence is low, the reality  could be that things are improving, particularly as the Index also shows that worries over maintaining 'standards of living' have fallen."