Job fears highlighted by research

05/01/2009

British workers will miss out on over £3 billion of pay rises this year due to the recession, stretching budgets up and down the country.

This is the main finding of new research from uSwitch, which also showed that over nine million UK workers don't feel confident of finding a new job in the current market if they were made redundant.
Perhaps as a consequence, over one million are thought to be staying in a job that they dislike, rather than looking for new work at the moment.

Louise Bond, personal finance expert at uSwitch, said: "2009 is going to be a bit of a roller coaster ride - bumpy for those who are able to stay in their job, but catastrophic for those who can't.

"The onset of the recession can not be stopped and the threat of unemployment is still a very real fear."

Latest government unemployment figures suggest that the UK's job loss total is 1.86 million.

This is the highest for eight years.

Tags; Young Family Finances, Job loss, Recent Graduate Debt,

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