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Job Security is an assurance that an individual will keep his or her job without the risk of becoming unemployed. S/he will have continuity in employment and it may be from the terms of a contract of employment, collective bargaining agreement, or labor legislation that prevents arbitrary termination. Lack of job security refers to a situation where a person with a job would have a high chance of becoming unemployed.
Job security may depend on economy, prevailing business conditions, and the individual's personal capacity. Employees have more job security in times of economic expansion and less in times of a recession. Normally, government jobs and jobs in education, healthcare and law enforcement are considered very secure. Private sector jobs are generally believed to offer lower job security.
Because of capitalist system and minimal government intervention in businesses, job security in the U.S. depends more upon the economy and business conditions. Job security in the U.S. vary a lot since the supply and demand for jobs depends on the economy. Job security increases if the economy is good.