Markit reports UK job security perceptions at its most negative since 2011
Markit reports that the UK household finances index just fell sharply from 47.6 in February to 42.5 in March as overall perceptions of financial wellbeing are seeing an accelerated decline amid the economic fallout from the virus outbreak.
UK households are reporting their fastest drop in workplace activity since 2009 and they are most pessimistic about jobs security in over eight years - with most feeling downbeat in the media, culture, entertainment sectors, followed by manufacturing.
Markit notes that:
"UK consumers are already feeling the financial pinch of coronavirus, according to the IHS Markit UK Household Finance Index. With the country on the brink of lockdown during the survey collection dates (12-17 March), surveyed households reported the largest degree of pessimism towards job security in over eight years, with those employed in entertainment and manufacturing sectors deeming their jobs to be at the most risk. Major purchases are being shunned in response to the worsening outlook for financial wellbeing, while the survey data suggest that workplace activity fell at the fastest rate since 2009."
The full report can be found here.
