Many Britons optimistic of avoiding redundancy

Posted 10/08/2009

Many people in the UK are hopeful of retaining their jobs during the current economic downturn, according to a new study.

Research commissioned by Friends Provident found that 50 per cent of respondents are optimistic of avoiding redundancy.

Younger people were found to be the most hopeful of all, with more than one in three 18 to 25-year-olds saying they are not significantly worried about the recession.

By contrast, only 19 per cent of those aged between 51 and 55 shared this point of view.

Simon Clamp, managing director of Friends Provident in the UK, commented: “We are urging older Brits to learn from the younger generation’s positive attitude and take steps now to ride out the recession and start planning for the future.”

Meanwhile, Capital Economics has predicted that unemployment in Britain could reach three million before the end of the year, rising to 3.5 million in 2010.

The organisation said the trend is being largely driven by job losses in the retail and service sectors.