Government Must Tackle the Rising Tide of Job Insecurity as Economic Growth Slows

10 Jul

Channels: Government

As the credit crunch begins to bite, the Government needs to take urgent action to address Britain's endemic insecurity

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In a new report published today, an event with Stephen Timms MP, the Social Market Foundation, a cross party think tank, argues that workers should be automatically enrolled in an unemployment insurance scheme. Angloflexicurity: A Safety Net for UK Workers, calls for the Government to collaborate with the financial sector to devise a better insurance safety net for vulnerable middle class employees.

The difference between salaries and benefits has grown larger, and rising levels of mortgage debt and loans mean that people are less able to bear the drop in income that unemployment brings. Although the labour market has been strong, the consequences of worklessness have become much greater - British workers who lose their jobs face a steeper drop in their income than Europeans and it is much more likely that their next job will be lower paid. Unemployment therefore presents a greater threat to both economic performance and well-being.
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