From the TUC

Unequal expectations

07 Dec 2011, by in Economics

Today’s Report on Jobs from the Recruitment & Employment Confederation and KPMG provides more evidence that insecurity and austerity are most likely to bear down on people who already had the worst prospects. The Report includes the results from answers to a question in the November Markit Household Finance Index: “How do you think the level of income from your employment will have changed 12 months from now?”

Most people did not expect any change, a result the Report describes as ‘subdued’, but overall, more people said they expected their income to be higher than lower. Overall, 27% expected their income to be higher and 15% expected it top be lower. But this pattern did not apply to people in the lowest income group:

The richer groups are plainly much more confident about their futures. The Reportsuggests that low-income groups’ pessimism about their future incomes is probably due to lower job security, “which was perceived to have deteriorated among the lowest earners at the sharpest rate of all income brackets in November.”