Monster Jobs Confidence Index – 2019 Election Special
The Monster Jobs Confidence Index currently stands at 66% for Q3 2019. This is down from 74% this time last year, but an increase of five percentage points compared to Q2 2019.
Monster Jobs Confidence Index Q3 2019
The Monster Jobs Confidence Index is a our quarterly measure that tracks sentiment in the labour market. It assesses the factors which affect confidence by including official statistics from the Office for National Statistics (ONS) and other government sources, as well as using survey based indicators to directly ask workers how confident they are in their job security and ability to progress in their career. This is the fourth iteration of the index, however historical values have also been estimated, dating back to 2009. The index can take values between 0% and 100%, where 100% suggests that workers feel extremely confident in their jobs. Similarly, index scores which are close to 0% suggest that employees are not at all confident.
Election Special – Voting intention and Jobs Confidence
The latest Index report reveals ongoing political turmoil is affecting workers’ confidence as the General Election fast approaches. When asked about how the current political landscape is affecting their job confidence, one quarter of people didn’t say they feel confident about their future career prospects.
Impact of the volatile political landscape
Only one in 10 people think that the current political climate is making them feel more confident in their job. This is a drop of one percentage point in the past three months as Government and the future of the UK has become increasingly unpredictable.The Index found that respondents aged 35-44 are among the most affected by politics, with only 4% saying that the current political landscape is making them much more confident in their job. In comparison, workers aged 45-64 are most likely to say that the current political landscape makes them much less confident in their job, with 16% reporting this.
Conservative voters are the most confident about their job security in the next six months
The Monster Jobs Confidence Index identified that Conservative voters are the most confident. Over half (56%) said they were confident about their job security over the next six months, and only 20% said they are unconfident. In comparison, workers who are planning on voting for the Labour party are the least confident about their jobs over the next six months, with 47% saying they are confident and 29% saying they are unconfident. When comparing how the political landscape is affecting jobs confidence with voting intentions, 39% of Labour voters and 53% of Liberal Democrat voters think that the current political situation is making them feel less confident in their jobs. Meanwhile, only 21% of Conservative voters think this. Scottish National Party and Lib Dem voters are the least confident, with 4% and 6% respectively, saying that the political landscape makes them more confident in their job. This rises to 10% for Labour and Green voters.
Half of UK workers don’t identify with a political party and are less confident than party supporters
At a time of increased political uncertainty, the Index has identified that 48% of UK workers feel politically homeless. These workers were also much more likely to say the feel unconfident about their job in the coming months. Of the workers who do not feel represented by a political party over half (57%) said they feel unconfident about their job in the next six months, compared to 45% of people who feel politically aligned to a party.
Education and confidence
People with the highest education levels are most likely to be feeling greater levels of career confidence. 21% of respondents who have a postgraduate degree or better said that they are very confident, while a further 29% said that they are confident.
Looking across the regions of the UK, people are most confident in their jobs in the North East, with 30% saying that they are very confident and 26% saying that they feel confident.
For deeper analysis access the report here now!