Thursday, January 22, 2015

Workers Feel More Insecure

Workers today feel more insecure about their jobs than their counterparts a generation ago, according to an analysis of data in the Monthly Labor Review by business school professor Charles N. Weaver. A comparison of worker attitudes in the 1970s (1977 and 1978) with attitudes in the 2010s (2010 and 2012) reveals a growing fear...
  • In the 1970s, only 7.7 percent of workers were afraid they would lose their job. In the 2010s, the figure had climbed to 11.2 percent. 
  • In the 1970s, the 59 percent majority of workers were confident in their ability to find a comparable job. In the 2010s, only 48 percent of workers had confidence.
The loss of confidence has been greater for some workers than others. Confidence has plunged the most for workers aged 30 to 49 (a 12.6 percentage point decline), men, (-12.8), high school graduates (-15.5), workers with some college but no degree (-23.1), and clerical workers (-23.9).

Source: Bureau of Labor Statistics, Monthly Labor Review, Worker's Expectations about Losing and Replacing their Jobs: 35 Years of Change

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