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Economic uncertainty and inflation: how does it impact job stability?

2023-01-19T12:11:10.253Z


More caution is now being seen about the possibility of a job change, according to a global survey by Randstad.


Around the world,

the uncertainty of the economy

- especially due to high inflation -

greatly affects

people's job security.

According to a global study, in Argentina,

75% of people are concerned about how economic variables can affect stability in their work

.

The figure is 23 percentage points higher than the value reported globally, where 52% of workers indicated they were concerned about this issue.

The study - which surveys the expectations, moods and behavior of workers in 34 countries - was carried out by the Randstad Human Resources services company.


Regarding the level of concern about the impact of the economy on work,

the average for the region was 74%.

Chile is the country that reflects the highest level of concern, with 80%

of workers concerned about their job security, followed by

Mexico with 77% and Argentina with 75%

.

At the other extreme is

Brazil with 63%

of workers concerned about the same situation.

Faced with the possibility of a job change,

71% of Argentines stated that they would not accept a job if it did not provide them with sufficient job security

.

The same was assured by 68% of Mexicans, 67% of Chileans and 66% of Brazilian workers.

Globally, this value stood at 63%.

Regarding these results, Andrea Ávila, CEO of Randstad for Argentina and Uruguay, explained that "after the phenomenon of the Great Resignation, where a large number of workers were encouraged to change their work course, empowered by the clarity achieved after the passage of the pandemic ,

today there is an attitude of greater caution in the face of the possibility of a change".

In this same sense, he continued that "although flexibility and the search for a better balance between work and personal life continue to guide career decisions,

being able to find a job that provides security has also become a relevant value in

the face of the growing uncertainty about the direction of the economy.

Rising inflation and the retraction of activity

as the

main signs of the weakening of the global economy have an

impact on the confidence

that workers have in the labor market, on the possibility of losing their job and on the ability to reintegrate in the short term. add study.

When analyzing the fear of losing a job

factor ,

the situation is very even at the regional level,

where 60% of workers in Argentina, Mexico and Brazil are worried about losing their jobs

, while

Chile

registers just 2 percentage points less .

,

standing at 58%.

However, concern about fluctuations in the macroeconomics affects most nations globally, where

uncertainty and inflation are becoming commonplace after the pandemic,

the critical situation of many companies that did not know recover after more than two years of losses and hardships and the impact of the war between Russia and Ukraine.

Faced with this reality, for example, in countries like

Spain, 73% of workers are concerned about their job security

and 56% fear losing their job, values ​​that are practically similar to those found in the Randstad report for Latin America, a region with a historically more unstable macroeconomic context.

Another factor that is closely linked to the fear of losing a job is the level of confidence regarding

relocating quickly in the event of becoming unemployed

.

In this sense,

45% of Argentines assured that they could find a new job quickly,

registering

the lowest level of confidence in the labor market in the region. 

The Randstad study also inquired about

the estimated retirement age of workers, another driver directly linked to the progress of the economy.

Faced with this question,

64% of Argentine workers

indicated that their financial position

prevents them from retiring as soon as they would like

.

When making a regional comparison, 68% of Chilean workers do not believe they can retire at the desired age;

The same happens with 58% of Mexican workers and with 57% of Brazilian workers, clearly showing that the economic situation does not support the possibilities of retirement at a relatively early age.

“With an economy that does not give clear signs that allow for greater optimism,

the endless race against inflation that does not subside

, seeking to

maintain the purchasing power of wages,

has a significant impact on worker expectations and the perception of uncertainty regarding of the labor market that are reflected in the indicators for the beginning of 2023," said Ávila.

NS

look also

Juan Luis Bour: "Inflation is making workers more flexible"

"Burn out" and not happy at work?: the reasons and 5 tips to increase well-being

Source: clarin

All business articles on 2023-01-19

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