The Institute for the Future of Work: Workers More Pessimistic About Job Prospects Despite Record Levels of Employment, Confidence in Welfare State Low

LONDON–(BUSINESS WIRE)–New research from the Institute for the Future of Work and Opinium shows
that worker optimism has fallen, with a 5^th of workers
becoming more pessimistic about their career prospects than last year
(22%). The research also shows that only a quarter (26%) of workers
trust the Government to provide assistance if they find themselves
unemployed.

Findings from 3,000 workers, weighted to be nationally representative of
the UK workforce, show that 60% think it would be difficult to find a
new job if they lost their current job, and 32% believe they would have
to take a less senior job if they became unemployed.

This pessimism is more stark outside of London: whilst 52% of London
workers say they would struggle to find a new job if made redundant,
this is significantly higher at 61% for workers outside of London. This
is likely related to the amount of job choice available in the capital,
with 51% of London workers believing they would have a lot of job
options to choose from, compared to only 38% of non-London workers.

These figures come on the back of recent ONS
employment statistics showing the highest employment rates since 1974,
showing that despite record levels, worker optimism is in decline.

The findings also show confidence in the welfare state is low. While
National Government was rated highest for who should
be primarily responsible to provide support in the event of someone’s
unemployment, only 26% of people said that they expected Government to
actually offer support. Nearly 80% of people said they’d expect their
family to help them whilst 68% said they’d look to friends and 32% to
their religious community.

This polling comes as The Institute for the Future of Work launches its
‘Good Work Charter’, which calls on employers to ensure that their jobs
offer dignity, fair pay and the opportunity to develop their skills and
future employability through learning and development. This polling is
part of The Institute for the Future of Work’s rolling programme of
research and advocacy to promote ‘good jobs’ and harness the Fourth
Industrial Revolution for all.

Anna Thomas, Co-founder & Director of The Institute from the Future of
Work said: “These findings show that British workers – especially
those living outside London – are rightly anxious about job change and
prospects through the ‘double disruption’ of Brexit and the 4IR.
Confidence in support for worker transition – Britain’s next big
challenge – is low. We need to broaden the conversation about ‘good
work’ and how we get there. The Good Work Charter will embed a
‘people-first’ approach to transition and reassure workers that
technologists, employers, investors and government prioritise future
good work. The Charter’s principles-based approach will endure
fast-paced change and help build on common ground.”

The polling will be launched at the Institute for the Future of Work
conference today where speeches will be heard from the Secretary of
State for Health, Rt Hon Matt Hancock MP; the Deputy Leader of the
Labour Party, Tom Watson MP; Chair of the Government’s AI Council
Tabitha Goldstaub and Naomi Climer CBE, the first female president of
the Institution of Engineering and Technology. A special message will be
sent to the conference from both Philip Alston, UN Special Rapporteur on
extreme poverty and human rights and Sir Angus Deaton, Nobel Laureate in
economic sciences.

ENDS

Notes to Editors:

About The Institute for the Future of Work

The Institute for the Future of Work is an independent charity with a
mission to shape a future in which work is better and fairer. We seek
out the most pressing challenges – and seize opportunities – to (i)
advance education into changes to the world of work and (ii) prevent and
relieve in-work poverty through the Fourth Industrial Revolution
(‘4IR’). Our organisation has grown out of the Future
of Work Commission.

Our Good
Work Charter is a framework for practice and policy orientation
designed to encourage fresh thinking to protect the fundamentals of good
work through the Fourth Industrial Revolution.

The Co-Chairs of the Trustee Board are: Nobel Prize winning, Sir
Christopher Pissarides who is the Regius Professor of Economics at the
London School of Economics and Naomi Climer CBE, the first female
president of the Institution of Engineering and Technology.

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