Workers unhappy with job security

Dubai: The overall employment landscape remains unstable, as more people around the world continue to join the jobless ranks.

In the United States, there are now 14 million unemployed individuals, according to the Bureau of Labour Statistics.

The government agency's report last month recorded more than 1,500 mass layoffs involving 165,547 workers, as indicated in the number of new filings for unemployment insurance benefits in August.

Each mass layoff involved at least 50 workers from a single employer. Lately, there have been news of major job cuts in the banking sector and people are fearful of another recession.

A survey conducted by Gallup among 489 adults in the US and the District of Columbia last August showed that 30 per cent of workers were worried about being laid off in the near future.

The survey also found that there were more workers unhappy with job security, amount of money earned, chances for promotion, and health insurance benefits in August 2011 than in the same month three years ago, or during the recession.

"The findings point toward an issue that may be bubbling under the surface of the unemployment problem," Gallup said in its report.

"With more workers than jobs, workers who do have jobs may be staying in jobs that they are less satisfied with. Further, employers who are struggling financially may be cutting back on salaries, promotions and health benefits —to the dissatisfaction of workers for whom those aspects may count more than ever."