Member Article

Research reveals North East resilience

The North East is rallying against recent job cut scares with six out of ten people in the region feeling secure in their jobs, a study shows. The report by Newcastle-based research firm Explain shows that less than a third of people are worried about their job security.

The findings are in contrast to a recent MORI poll which showed that 50% of people nationally are fearful of losing their jobs. The study into spending habits on big ticket items during the economic downturn also found that over half of those asked had been largely unaffected by the credit crunch and forecast that they will not be reducing spend on fashion, home and holidays.

Kim Davis, Explain’s research director, said: “This determination to buck the national trend is demonstrated by the region’s predicted spending habits for 2009. We discovered that most people we spoke to are planning to spend the same or more this year on luxury items such as holidays, clothes and home décor, as they did in 2008.

“Many reports are suggesting that the North East is better situated to cope with the financial difficulties the UK is facing at the moment and this seems to be reflected in the thoughts of our respondents. It seems that the downturn is predicted to continue for some time yet, but perhaps our North East resolve will help us weather the storm and come out on top.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .