Confidence about job security among West Midlands' employees has steadily recovered since the collapse of MG Rover earlier this year, a survey by Lloyds TSB Financial Markets has revealed.
According to the bank's monthly UK Consumer Barometer, job confidence in the region plummeted following the closure of Rover, but since then has continued to steadily rise.
In April, around the time when MG Rover collapsed, the balance of people that felt their jobs were more secure (rather than less compared to this time last year) was four per cent, but in the following month that figure slumped by 16 per cent to minus 12 per cent as repercussions became understood by consumers.
However, the figure has rebounded and the latest survey shows that confidence in July returned to the same level - six per cent - recorded in March, before the collapse.
A total of 27 per cent of respondents feel their job is now more secure than it was 12 months ago, compared to 21 per cent who said it is less. This compares favourably to the previous month when the figures were 20 per cent and 27 per cent respectively.
But whilst job confidence appears to be on the up in the West Midlands, the outlook for general employment prospects is not as sunny.
In April, the index for employment prospects fell from minus one per cent to minus 25 per cent and has failed to make up for the shortfall, increasing in July to minus 17 per cent.
"This display of greater job security could support a recovery in consumer spending and bolster a rebound in the housing market in the region," said James Thomas, regional director at Lloyds TSB Financial Markets in Birmingham.