Jobs confidence plunges to lowest level since 2014
Over a third of Britain’s workers do not feel confident about their job security in current roles —or even future employment opportunities, a new report has found.
This brings the confidence of employees and job seekers in the UK job market to the lowest level since March 2014 according to the latest Monster Jobs Confidence Index, published by jobs board Monster.co.uk on Friday.
The marked drop is due to increasing signs of a weakening labour market as growth in the number of job vacancies has started to slow down, with a drop of 1.4% since this time last year, according to data from the Office for National Statistics.
35% of UK workers surveyed said that the current volatile political landscape is having a negative effect on their job confidence.
The highest levels of confidence were found in Yorkshire and the Humber where over half (56%) said they are confident about their employment prospects over the next six months. On the other end of the scale, workers in the East of England were the most worried about their futures.
The report found that the youngest workers are the most confident with recent graduates and school leavers coming in as the least pessimistic about their employment opportunities and ability to progress in their careers.
In comparison, those in the 35-44 year age group are the most concerned about their job due to the current turbulent political landscape.
The report suggests that due to continued uncertainty around Brexit and a possible general election, it’s expected that levels of jobs confidence are likely to keep falling as workers are worried about what the future holds for them.
Derek Jenkins, Managing Director of Monster.co.uk, says, “Ongoing political and economic uncertainty means workers across the country are, understandably, concerned about keeping their jobs and what the future holds for them.
“Despite increased negativity and weakening levels of confidence across the country, it is good that the younger generation are still feeling confident as they start their careers. Employers need to embrace this positivity by providing them with opportunities that will install long term confidence. Consider running company wide meetings so they can see the direction the business is taking, or providing training in valuable skills.”