Job security increases as job prospects decline

Workers are feeling more secure in their jobs after an improvement in confidence over the past year, according to a survey.

Of 2,000 adults questioned by Lloyds TSB, one in four is more secure at work, while 55% feel there has been no change since a year ago.

Less than one in five said their job was less secure than 12 months ago.

Despite the feeling of increased security, one in three believes their employment prospects have worsened.

Just over half of those surveyed predict that interest rates will increase over the next year.

Trevor Williams of Lloyds TSB, said: “This display of greater job security could support a recovery in consumer spending and bolster a rebound in the housing market later in the year.

“If this pans out, it reinforces the view that the Bank of England’s Monetary Policy Committee will hold off from making any further interest rate cuts in the foreseeable future.”

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