Job insecurity leaves millions in “precarious position”

Yet these insecure workers – which account for a tenth of the workforce – have few savings put aside to cope with debt in case they are made redundant, Prudential has said.

Angus Maciver, business director of insurance at Prudential, warned: “Only one in ten of the people we surveyed said that they had planned financially for jobless or illness periods.

“But this leaves them in a precarious position – just 30 days from financial crisis.”

His warnings come as the interest rate is raised, which could see the financial security of many threatened.

Overall, the survey found that a third of Britons had no savings tucked away for emergencies.

With so many people at risk of crisis due to their debt, Mr Maciver urged people to seek financial advice before a disastrous change of circumstances occurs.

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