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Job security

November 2011 Financial Security Index » Job Security

Q:

How do you feel about your job security compared to 12 months ago?

Nineteen percent of those younger than 30 feel less secure in their jobs compared to 12 months ago, while 25 percent feel more secure.
Only 1 in 10 Americans age 30 to 64 feel more secure in their jobs now than they did a year ago. Three times as many feel less secure.
Roughly a quarter of college grads feel less secure today than a year ago. That compares to 34 percent with a high school education or less.
Robert Bruno

"Workers recognize they have been asked to do more with less help, and no matter how hard they work or how much money their employer makes, the likelihood of a smaller future workforce seems predetermined."

Workers are feeling insecure because they know something scary; they know that the nation's employers are collectively sitting on a mountain of cash but are showing no willingness to spend it on human capital. Profits are approaching pre-recession levels but not because more workers are producing but because fewer are. It's a recipe for a well-grounded insecurity. Workers recognize they have been asked to do more with less help, and no matter how hard they work or how much money their employer makes, the likelihood of a smaller future workforce seems predetermined. And given the loss of employment in the public sector, if you're an African-American or Hispanic worker, your hold on full-time employment feels even more tenuous.

- Robert Bruno, director of the Labor Education Program and professor in the School of Labor & Employment Relations at the University of Illinois in Chicago

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