Four in five workers fear losing their job as cost-of-living pressures intensify

The poll of hundreds of UK employees found that many are experiencing growing anxiety about job security and the wider economy.

As economic pressures and cost-of-living concerns persist amid continuing geopolitical tensions, workers remain uncertain about the stability of the labour market in the months ahead.

According to the report from CV builder MyPerfectCV, 79 per cent of UK workers say they are worried about losing their job this year. Concerns are said to be rising, with 69 per cent feeling more worried about job security than they did last year.

Around 77 per cent of those quizzed believe the UK unemployment rate will increase this year, while 92 per cent say they are concerned about the country entering a recession in 2026.

Cost-of-living pressures remain a top concern, with 59 per cent worrying their pay will not keep up with costs, while 58 per cent cite the cost of living as a major worry.

The firm said its report’s findings suggested that financial stability and job security remain top priorities for UK workers as they navigate an uncertain economic environment.

Jasmine Escalera, career expert from MyPerfectCV, said: “Many workers are feeling increasingly uncertain about their job security right now. Concerns about layoffs, rising unemployment, and the broader economic outlook are clearly shaping how employees view their stability at work.”

The report was based on a survey of 800 UK employees. Some 82 per cent of workers believe layoffs are likely at their organisation, and 63 per cent think redundancies across the UK will rise in 2026.

Meanwhile, business hiring confidence showed an increase in the first three months of 2026, with the number of job vacancies advertised up 7.6 per cent compared to the same period in 2025, according to the latest labour market insight report from job site CV-Library.

However, following a 9 per cent increase in January and 11 per cent in February, March saw vacancy rates up just 0.8 per cent compared to the prior year, suggesting that early confidence has been tempered by the impacts of the Iran war.

Official figures last month revealed that UK unemployment had remained at its highest rate in five years. The jobless rate stood at 5.2 per cent in the three months to January, according to the Office for National Statistics (ONS).

The increases over the period were largely due to youth joblessness, the statistics body noted.

Businesses have been faced with higher costs for employing workers due to the hike in employers’ national insurance contributions. Higher minimum wages for younger workers has also contributed to the growth in unemployment among that age group.

At the same time, the ONS noted that wage growth was at its lowest rate in more than five years. It means pay is still rising faster than inflation, but more slowly than previously.

Economists have expressed concern that as the conflict in the Middle East continues, unemployment rates could climb higher.

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