How do you feel about your job security compared to 12 months ago?
|Just 18 percent of Americans feel less job security than 12 months ago, a dramatic drop from 28 percent last month.
|Nearly 3 out of 10, or 29 percent, of those younger than 30 feel more job security than a year ago, versus 9 percent of people between 50 and 64.
|Some 29 percent of low earners, those making less than $30,000 per year, feel less job security today, versus 14 percent of high earners who make more than $75,000.
Robert J. Fuest
"This is likely why we are seeing increases in consumer spending, higher auto sales and a general preliminary increase in the first few major shopping days of the holiday season."
I don't see any meaningful increase in the amount of respondents who feel more secure, but I do notice a significant increase in those who feel about the same. I think this is important because the group is still employed, the economy is doing better in many regions around the U.S., so, by default, there likely is an uptick in a sense of security among this group. Moving out of the "less secure" category is, by default, a positive move regardless of which other category is selected. This is likely why we are seeing increases in consumer spending, higher auto sales and a general preliminary increase in the first few major shopping days of the holiday season.
- Robert J. Fuest, COO and head of investment research at Landor & Fuest Capital Managers in New York City
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