Post Office releases unemployment insurance research

Most people do not have any form of unemployment insurance despite their fear of losing their job, the Post Office has found.

In a new survey released today, the organisation said that 71 per cent of Brits do not hold this kind of insurance.

This comes despite 50 per cent fearing that they will lose their jobs.

The general economic slowdown stemming from the credit crunch is likely to push unemployment levels higher in the UK.

Over the past week, lay-offs have been announced by Jaguar, while MFI and Woolworths have said that they will enter administration.

Unemployment stands at 1.8 million, but some analysts expect it to rise to almost three million over 2009.

Duncan Caesar-Gordon, Post Office head of protection, said: "It is worrying to see how many people do not have a back up in place to protect their finances if they lost their job.

"The number of people who are willing to rely on benefits without knowing what they would be entitled to receive is of great concern."