Job insecurity is a problem
Stumbling and Mumbling is an economics blog that is always worth reading. Even when you disagree, it makes you check your own position.
“this survey is no evidence whatsoever of an impending economic downturn”
But that is not what we said. As Brendan Barber said in the release:
“Of course this does not mean that unemployment will rise by anything like three million, but it does show just how jittery people have become about the economy and their own job.”
And if people change their economic behaviour as a result, it will have an effect on the economy.
But S&M goes on to make some interesting points about the natural churn of jobs in the economy, and that people are not always very good at understanding just how precarious they can be. This is good stuff, but if so many are now worried, this does tell us something about that nebulous but all-important confidence.
To really settle the argument we would need some historic data on attitudes to job security, and our aim (budgets permitting) is to make this into an annual series in the run up to the annual TUC Congress.