A recent study by Professional Resume Writers offered some very revealing insights into the American job security landscape. The survey, which polled more than 2,000 full-time and part-time workers in the United States, found that a staggering number of respondents expressed concerns over their future employment prospects.
We took a closer look at the survey responses to learn more about the state of job security in America today.
Where Are The Main Concerns?
The study revealed a number of areas of concern for workers, and these include:
Perhaps unsurprisingly, job security ranked as the top concern among respondents, and the study showed that the highest levels of concern came in the top, with 66% of executives expressing concerns about job security in 2023 – this is the highest of the levels surveyed, but there is evidence of growing concern across all areas of the workplace hierarchy, and all educational backgrounds, with early career workers also reporting that their concerns over job security have increased by 97% this year alone.
Concerns over job security permeated every level of the workplace, with a total of 49% increase in job security more generally across the board – and a 111% increase in concerns from those with bachelor degrees.
Cost Of Living
Another area of concern for many respondents was the cost of living, with 97% of entry-level workers stating that they have been significantly impacted by the cost of living, and many executives feeling like they have not been paid fairly in line with inflation. The wide disparities in wages between different levels of workers and generations were also reported as a source of stress and suggested that wage stagnation could be a factor in the lack of job security.
Home And Remote Working
The survey revealed interesting findings in terms of home and remote working. While many respondents expressed a desire to continue working from home after the pandemic, 21% of workers said that job security has been impacted by working from home-this was seen as particularly pertinent for entry-level workers who felt that they needed to develop their skills in person in order to progress their career.
A Desire To Change Careers
Lastly, the survey found that many workers are feeling unfulfilled in their current positions, and are keen to explore new career options, 6 out of 10 people are looking to change careers in the next 5 years, with many citing a lack of job security and wages as their main motivator.
Overall, the survey paints a picture of an American workforce largely dissatisfied with their current positions and concerned for their future prospects. With job security worries at an all-time high, it is clear that there needs to be more focus on creating secure jobs and offering appropriate wages to enable workers to fulfill their potential.
Where Have Job Security Concerns Come From?
There are many factors that have contributed to the current level of job security concerns in the US, and some of the main issues include:
The pandemic has had an enormous impact on global economies, and this is particularly true for America, where job losses have been significant.
The lack of economic stimulus from the government has also added to the sense of insecurity, with some sectors, such as hospitality, needing more support than ever before. Automation and an increasingly competitive job market have also been cited as factors in the lack of job security.
The survey highlighted that wages have not kept up with inflation, and this has caused a great deal of stress for many workers, who feel that they are not being fairly compensated for their work.
The disparity between different levels in the workplace is a major source of stress, with entry-level workers feeling that they do not have the same opportunities to progress as those further up the career ladder.
Michelle Masters, co-founder of Professional Resume Writers, commented on the findings, stating, “It’s not surprising that many individuals are concerned about their job security, given the current economic climate. It’s important for professionals to take proactive steps to maintain their employability, such as staying up-to-date on industry trends and continually honing their skills. Additionally, individuals who are considering a career change should focus on their transferable skills and how they can be leveraged in a new field.”
With job security worries at an all-time high, employers and governments must work together to create secure jobs and provide adequate wages for workers. Investing in education and skills development is also essential in order to ensure that workers have the skills required to progress in their careers.