Job Insecurity

Job security is the probability that a person will keep their job, and job insecurity is the psychological experience of a low degree of that probability, the perceived threat that factors such as globalization, outsourcing, downsizing, recession or new technology could cost a person their position. Basic economic theory holds that job confidence and security typically rise during economic expansion, as businesses investing in growth need more capital and labor, and fall during a recession, as businesses facing reduced demand look to downsize their workforce. Career adaptability has a documented relationship to job insecurity, with more adaptable individuals generally reporting less of it, and studies have found career adaptability significantly and positively correlated with a person's sense of market resilience, which is itself negatively correlated with occupational insecurity.