Survey: Service sector workers experience increasing income uncertainty
Service Union United PAM’s economic barometer shows that service sector workers feel increasingly uncertain about their economic situation. In their responses, workers in the tourism and hospitality sector and the facilities services sector are most concerned about their financial situation deteriorating.
The survey findings of PAM’s economic barometer show that around 30% of respondents in the tourism and hospitality sector and the facilities services sector feel that their personal finances have deteriorated in the last quarter. The same goes for around one in four respondents (26%) in the retail sector.
The respondents do not expect their finances to improve over the coming year either. Respondents even fear their situation will deteriorate. This indicates that a large proportion of workers in private service sectors are living under financial pressure.
- In the facilities services sector a whole 36% of respondents expect their own finances to deteriorate over the coming year. Only 14% expect their situation to improve. In the tourism and hospitality sector the situation appears even more desolate; only 7% of respondents expect their finances to improve, says PAM’s economist Antti Koskela.
Although respondents to the survey expressed concern about their own finances, the barometer’s findings also point to positive changes. In all of PAM’s collective agreement sectors, the proportion of workers who are not afraid of becoming unemployed is trending higher. Around 50% of respondents in the retail sector, 37% in the tourism and hospitality sector and 42%in the facilities services sector do not feel threatened by unemployment.
- Our survey shows that especially in the retail sector and the facilities services sector respondents feel that their employers’ financial position has developed positively. More workers in the sector than before do not feel threatened by unemployment, says Koskela and continues
- For example, over 40 % of employers in the facilities services sector estimated that they will increase their workforce in 2017. This trend may also be reflected in workers’ confidence in their jobs, Koskela states.
Workers’ impressions of how their employers’ financial position will evolve also affect confidence in the future. Almost 50 % of workers in the retail sector and 44 % in the facilities services sector believe that their employers’ finances will improve over the coming year. In the tourism and hospitality sector that share is just 19 %.
- Unfortunately workers’ impressions in the tourism and hospitality sector diverge from others in this respect too and give a gloomier picture of the employment situation in the sector. However, growth in that sector has been higher and is expected to accelerate further. PAM’s survey shows that workers’ impressions in the tourism and hospitality sector contrast with this. This disconnect shows the uncertainty among workers in the sector.
- But the current upturn in the retail and facilities services sectors is reflected in the responses from those sectors, giving a more positive picture of the situation. In both sectors almost 40 per cent of respondents believe that their employer has increased sales over the last year, says Koskela.
News item first published in Finnish on 25 April 2017.