A survey by Statec shows that a quarter of the population fear for their job due to the pandemic.
Job insecurity has worsened for 25% of Luxembourg’s residents as a consequence of the COVID-19 crisis, a new study by Statec says. Whereas job security either improved or did not change for 75% of residents, since the start of the lockdown.
The document shows the first results of the COVID-19 Social and Economic Impact Survey, which was conducted by the national statistics institute during the pandemic.
“There are few things that can be as destructive for people’s wellbeing as unemployment and the fear of losing one’s job, i.e. job insecurity,” notes Francesco Sarracino, the author of the publication.
“Social stigma, difficulty to make ends meet, feelings of failure, uncertainty about one’s own future, re-employment opportunities, and the difficulty to provide for loved ones are some of the reasons why worldwide unemployed people are usually less satisfied with their lives than people in employment”, he adds.
According to the survey, 60% of those who fear for the future of their jobs are people in employment, whereas an additional 25% are working short-time as a consequence of the COVID-19 pandemic.
“In other words, the increased job insecurity of 1 out of 16 residents is associated to the short working time imposed by the pandemic”, Sarracino explains.
If job insecurity is equally distributed between men and women, it mainly concerns nationals (39.4% of Luxembourgisch respondents) as well as immigrants, 20.8% of French respondents and 20.3% of Portuguese respondents.
When it comes to education, job insecurity affects people with secondary (45.1%) and tertiary (36.4%) education the most, the study continues.
30.8% of the respondents aged between 45 and 54 worry the most about job insecurity followed by people aged of 35−44 years (29.8%).
Among teleworkers (53.5% respondents), “people with large houses (> 76 and < 200 square meters) and people whose income did not change since the beginning of the pandemic are also affected by this phenomenon”, the survey adds, while admitting that “there is no statistically significant association between teleworking and job insecurity”.
made things worse.
For Sarracino however, COVID-19 has made things worse: “The decrease in people’s income and ability to save money, and the decline in mental and physical health that took place since the beginning of the pandemic increased the probability of job insecurity”, he details.
According to the survey about 13% of residents in Luxembourg experienced a decrease in income, and in the ability to save money, since the beginning of the crisis. And 15% report worsened physical health and 28% report deteriorated mental health.
“Experiencing income loss and a lower ability to save money increase the probability to be job insecure by nearly 14 and 13 percentage points, respectively”, the study concludes. “Similarly, the probability to be job insecure increased by about 10 percentage points for people who experienced worsened physical and mental health, respectively”.
LinkedIn, June 2020