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People feel 'less secure in jobs'

People feel 'less secure in jobs'

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Inflation is expected to continue to rise and fears over job security are growing, a poll conducted by Lloyds TSB has revealed.

The survey of 2,000 consumers showed that most people believe inflation will rise to five per cent in August, which could impact upon those with mortgage and loan repayments.

This is up from the official figures of 4.8 per cent recorded in July.

Furthermore, many respondents expressed concerns over their job security, although there were some that believe employment prospects have improved from the same time last year.

Chief economist of Lloyds TSB Corporate Markets Trevor Williams stated: "If inflation expectations continue to grow, bringing down actual price inflation is going to be increasingly difficult."

He added that this will mean more people will attempt to negotiate higher pay rises.

Research by Interquest recently revealed that one in three IT companies are making job cuts, Computing magazine reported.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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