Eight out of 10 workers (82%) fear they will lose their jobs as recession looms although 70% already struggle to make ends meet while in employment.

According to Peninsula Business Services, the 82% figure represents a rise from 74% in August this year. More than two thirds (67%) are now considering taking on a second job compared with 62% in August.

Peter Drone, managing director of Peninsula, said: "Job security in the run up to Christmas is a major concern for employers at a time when recession looms.

"As we head close to recession there is less confidence in the economy as a whole and this can be seen with monetary falls in varying sectors, from retail to manufacturing. It is important for employers to be open and honest with employees so they have a clear indication of what is going on. This will help them accept the issue of redundancy a little easier."