Lower job security linked to lower life satisfaction

People who feel their employment is insecure are more likely than other employed people to rate their overall life satisfaction poorly, Stats NZ said today.

New survey data from the March 2021 quarter shows that 26 percent of employed people who thought there was a high or almost certain chance of losing their job or business in the next 12 months, rated their life satisfaction poorly, at 0-6 on a scale from 0 to 10. This compares with just 9.3 percent of those who felt there was almost no chance of losing their job or business.

“Overall life satisfaction tended to increase along with job security,” wellbeing and housing statistics manager Dr Claire Bretherton said.

“One in 5 people with the highest level of job security rated their life satisfaction at the maximum of 10. They were almost twice as likely to do so as those who were the least secure in their employment.”

Almost certain / high chance
0 to 626
720.8
830.1
911.8
1011.3
19.932.1
14.926.6
23.736.4
7.416.2
6.815.9
Overall life satisfaction ratingMedium chance
0 to 618.1
722.7
832.8
914.7
1011.7
15.320.9
19.625.7
29.236.5
11.817.5
9.214.1
Overall life satisfaction ratingLow chance
0 to 610.8
719.5
836.8
918.5
1014.4
9.512.1
17.721.2
34.738.9
16.820.2
12.816.1
Overall life satisfaction ratingAlmost no chance
0 to 69.3
715.6
834.1
920.8
1020.1
8.110.6
1417.3
32.335.9
19.122.6
18.621.7

Job security has been a concern for many people during the COVID-19 pandemic. However, most New Zealanders feel reasonably secure in their employment. In the March 2021 quarter, 43 percent of employed people felt there was almost no chance of losing their job or business in the next 12 months, and a further 38 percent felt there was only a low chance. Just 13 percent felt there was a medium chance and 4.2 percent that the chances were high or almost certain.

“With job losses having been less severe than feared at the start of the pandemic, people’s feelings of job security have improved over the past year,” Dr Bretherton said.

Between the June 2020 and March 2021 quarters, those who felt there was at least a medium chance of losing their job or business in the next 12 months fell from 23 percent to 17 percent. On the other hand, those who felt there was a low or almost no chance increased from 73 percent to 81 percent.

LikelihoodJun 2020
Almost certain / high chance6.6
Medium chance16.8
Low chance36.1
Almost no chance37.2
Don’t know3.4
5.97.3
15.717.9
34.437.7
35.538.8
2.84
LikelihoodSep 2020
Almost certain / high chance6
Medium chance16.3
Low chance37
Almost no chance37.6
Don’t know3.2
5.36.6
15.217.3
35.738.3
36.338.9
2.73.6
LikelihoodDec 2020
Almost certain / high chance4.4
Medium chance12.6
Low chance37
Almost no chance43.6
Don’t know2.4
3.95
11.713.6
35.838.2
42.244.9
22.8
LikelihoodMar 2021
Almost certain / high chance4.2
Medium chance12.6
Low chance37.9
Almost no chance42.9
Don’t know2.4
3.64.7
11.613.6
36.439.5
41.344.5
1.92.9

/Stats NZ Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.