A third would need Job Seekers Allowance

job seekers allowance

job seekers allowanceDue to the unpredictability of the employment landscape and the ever-present threat of job losses, many of us admit we would turn to Job Seekers Allowance if we suddenly found ourselves unemployed.

New figures from Paymentshield and You Gov show over a third of adults would rely on government support to bail them out if they lost their job or were unable to work due to accident or sickness.

The survey of 1,000 adults revealed that 41 per cent of people currently in full-time employment would expect to use Job Seekers Allowance to help cover their finances should they be unable to work for six months.

Around 1.6 million people currently claim Job Seekers Allowance in the UK, a recent jump despite the number of people not in work decreasing for the first time in months.

Job Seekers Allowance explained

You are only eligible for Job Seekers Allowance if you are 18 or over, currently unemployed and looking for work.

You can also claim if you are working fewer than 16 hours per week and are living in England, Scotland or Wales.

The maximum weekly amount for someone under 25 is £56.25, while over 25s can receive up to £71.

Couples and civil partnerships can claim as much as £111.45 per week.

Protecting your income

Loss of income can hit families hard but there are certain steps you can take to offer peace of mind in case the worse does happen. Redundancy and illness could occur at any time, and if you're not prepared for it then you're risking an awful lot.

"Our research also highlights that British adults are finding it difficult to save, with very few being able to save more than fifty pounds a month," said Tim Johnson, chief executive of Paymentshield.

"With increasingly restricted access to state benefits, adults should be looking at other long-term ways to protect their finances."