37% people are insecure over work (Irish Examiner)

04 November 2011
NEARLY 40% of respondents to a survey have admitted to feeling insecure over their work prospects for the next 12 months.
The survey, carried out here by insurance group Standard Life and forming part of its quarterly Irish financial confidence index, quoted 37% of people saying they believe their job and business prospects will be less secure within a year.
The overall index fell to a measure of 55 points, down from 56.2 points at the time of the last index at the end of September. The new data also showed that those living in Munster are less confident about their near-to-medium term financial stability. Munster measured a 53.9 point reading in the latest index, albeit up marginally from 53.8 in the last index. Although, down on an index-by-index measure, the most confident region of the country was Leinster (excluding Co Dublin) with a reading of 56.1 points. Dublin’s confidence reading was down from 59.9 at the end of September to 55.3 as of the latest survey.
Standard Life Ireland’s head of distribution, Nigel Dunne, said: “The survey shows a steady decline in financial confidence over the past 12 months, but we have seen a marked deterioration in the outlook for jobs, business prospects and property values over the past six months.”
Given the fall in house prices, it is unsurprising that as much as 51% of respondents believe their home will be worth less than it is now in a year. However, when asked the same question back in March of this year, only 27% of respondents expressed the belief that their house value would decline in the coming year.
Other elements of the survey showed that the 18-24 age bracket experienced the largest index-by-index drop in confidence, while those aged over 65 exhibited the smallest dip in confidence.