Falling redundancies hints at strength in British jobs market

Tim Wallace
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JOB SECURITY may be increasing as falling numbers of people know workers who have lost their jobs, according to a report out today.

Legal and General’s study shows 54 per cent do not have any friends or family made redundant in the last quarter, up from 52 per cent in the last study three months ago.

However there is still some caution in the market despite the improving economy – only 72 per cent of workers feel their job is secure, down from 74 per cent in April’s survey.

Despite the fall in those feeling secure, analysts believe workers are adapting to the uncertain economy.

“Our job security index suggests workers are so familiar with uncertainty in the job market that it has now become the norm,” said Legal and General’s Mark Holweger.

“Having adjusted to the on-going environment, workers are worrying less about maintaining their standard of living, in what are still very difficult times.”