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Job security

September 2011 Financial Security Index » Job Security

Q:

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

Just 22 percent of Americans feel less job security than they did a year ago, down from 29 percent in August.
Of those younger than 30, 23 percent feel more secure in their jobs, compared to 10 percent for those between 50 and 64.
Twenty percent of those earning less than $30,000 say they feel more job security versus 12 percent earning $50,000 to $75,000.
David Denslow Jr.

"Businesses worry about both what the government will do and about its debt and how households will rebuild their net worth."

In September, 22 percent said they were more likely to lose their jobs now than in 2010, compared to 16 percent saying their jobs were now safer. This increased concern is widespread. It ranges from dropouts to college graduates, from the less-skilled to high earners, from the young to those approaching retirement. And it is remarkable for the beginning of the third year after the official end of a recession. The third years of the previous two recoveries saw rapid job gains. This time may be different. The Fed will leave any remaining arrows in its quiver. Short-term fiscal policy will at best avoid going in the wrong direction. Businesses worry about both what the government will do and about its debt and how households will rebuild their net worth.

- David Denslow Jr., research economist for the Bureau of Economic and Business Research and distinguished service professor in the Department of Economics at the University of Florida.

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