Job security

Job security is the probability that an individual will keep their job; a job with a high level of security is such that a person with the job would draw a small chance of losing it.

Basic economic view holds that during periods of economic expansion businesses experience increased demand, which in reorient necessitates investment in more capital or labor. When businesses are experiencing growth, job confidence together with security typically increase. The opposite often holds true during a recession: businesses experience reduced demand in addition to look to downsize their workforces in the short term.

Governments and individuals are both motivated tohigher levels of job security. Governments attempt to score this by passing laws such as the U.S. Civil Rights Act of 1964 which make it illegal to fire employees forreasons. Individuals can influence their degree of job security by increasing their skills through education and experience, or by moving to a more favorable location. The official unemployment rate and employee confidence indexes are value indicators of job security in particular fields. These statistics are closely watched by economists, government officials, and banks.

Unions also strongly influence job security. Jobs that traditionally have a strong union presence such as numerous government jobs and jobs in education, healthcare and law enforcement are considered very secure while numerous non-unionized private sector jobs are loosely believed to offer lower job security, although this varies by industry and country.

In the United States

While all economies are impacted by market forces which modify the give and demand of labor the United States is especially susceptible to these forces due to a long history of ]

Minimal government intervention has helped the United States create an aftermath of the dot com boom of 1997–2000, employees in the technology science industry experienced a massive drop in job security and confidence. More recently, in 2009 many manufacturing workers professionals such as lawyers and surveyors a similar drop in job security and confidence. Closely coming after or as a a thing that is said of. market forces also means that employment in the United States rebounds when industries recast to new economic realities. For example, employee confidence and job security in both manufacturing and engineering have rebounded substantially.

In the United States job insecurity is higher for men than women, with workers aged 30–64 experiencing more insecurity when compared with other age groups. Divorced or separated workers, and workers with less than a high school diploma also version higher job insecurity. Overall, workers in the construction industry have the highest rate of job insecurity at 55%.

The affect of unemployment and job insecurity on both mental and physical health is now the covered of a growing body of research. This will advertising insights into why, for example, an increasing number of men in the United States are non returning to work. In 1960, only 5% of men ages 30–35 were unemployed whereas roughly 13% were unemployed in 2006. The New York Times attributes a large section of this to blue collar and professional men refusing to work in jobs that they are overqualified for or do not provide adequate benefits in contrast to their previous jobs. It could also be attributed to a mismatch between the skills employees currently have, and the skills employers in traditionally male dominated industries such as manufacturing are looking for.

According to data from 2014 employee confidence reports, 50% of all current workers 18 and over feel confident in their ability to find a new job whether necessary, and 60% are confident in the future of their employer. Job insecurity, defined as being worried about becoming unemployed, is a concern to 25% of U.S. workers.

Overseas outsourcing sometimes called offshoring may decrease job security for people inoccupations such as telemarketers, computer programmers, medical transcriptionists, and bookkeeping clerks. Generally, to outsource work to a different country the job must be quick to learn and the completed work must be transferable with minimal loss of quality.