Majority of people worried by their financial situations

Friday 3^rd March 2017

Leading local advice charity, Citizens Advice Exeter, today releases the results from its fourth economic well-being survey. The survey ran in January 2017.

Citizens Advice Exeter Chief Executive Steve Barriball said: “A key finding is that just over half of those who responded to the survey, some 51%, said that they were worried about their financial position. However, this is down from 56% a year ago. Also, income levels seem to have stabilised, with 59% of those responding saying their income levels remained the same. This is up significantly from January last year when 34% of respondents had seen their incomes stay the same.  79% of those who participated in the survey told us that they had received a pay rise in the last two year’s. This is up from 70% in January 2016. This is all welcome news.”

Steve continued: “There was also a large reduction in those borrowing through loans and overdrafts, but a significant increase in people borrowing from other sources, such as from friends and family. This may suggest that for some people the ability to borrow through more traditional sources are becoming limited, particularly for those working on short-term or zero-hours contracts.”

Steve finished by saying: “In terms of job satisfaction, overall, some 84% of respondents were fairly happy or better with their employment situation. This is 5% lower than in January 2016, but 4% higher than in July last year. Whilst the headline job figures continue to look positive, there is a suggestion here that job satisfaction is still fluid for some.”

A summary of the results of the survey, run in partnership with the Express and Echo, Radio Exe, Exeter City Council and Exeter Chamber of Commerce, will be published on the charity’s website – www.citizensadviceexeter.org.uk

Economic Well-being Survey

23^rd February 2017