Redundancy and global recession top customer concerns list

09/03/2009

Job loss fears top the list of biggest consumer concerns of 2009, a survey has shown.

Edward Jones, a company specialising in financial services, found that 27 per cent of Brits feel that "being made redundant" is the thing that worries them most.

The same number said that "the global recession" was top of the list - with falling house prices, flat consumer spending and lower manufacturing output meaning that Britain is facing its worst recession in several decades.

A public-spirited 16 per cent said that the government's rising debt burden was their biggest worry, while ten per cent worried about the value of their pension pots.

Another ten per cent went for "not being able to meet mortgage payments".

This is unsurprising, given that repossessions rose from 27,000 to 40,000 from 2007 to 2008 - and that one group expects this total to double for 2009.

Tim Kirley, Edward Jones UK principal, said: "That the mounting global recession was ranked as highly as being made redundant may be a surprise to many but it just underlines how people are aware these days of what is happening across the globe. Clearly they don't like the look of what they see.

"It also shows the older people are the more worried they tend to become about their pension fund. While people under 40 might feel they have plenty of time left to save, certainly those over 55 face a different situation."

Region by region, Edward Jones found that people in the south of England were the most worried about redundancy - while Scots were the least worried.

Tags; Young Family Finances, Retirement Money Problems, Job loss, Recent Graduate Debt,

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