Job satisfaction levels have fallen to an all time low, according to the latest Chartered Institute of Personnel and Development’s (CIPD) quarterly Employee Outlook survey of over 2,000 employees.

The survey, conducted by YouGov, shows job satisfaction levels have fallen to an all-time low of +35, down from +48 last summer.

Among 18-24-year-olds, job satisfaction levels have declined to just +5 from +44 in summer 2009, while respondents aged 55-64 are the most satisfied at work, with a score of +55, the same level recorded in summer 2008.

The report also finds that 63% of workers believe it would be difficult or very difficult to find another job if they lost their current one, while 19% fear that it is likely or very likely that they could lose their job as a result of the recession.

CIPD lead adviser and co-author of Employee Outlook, Claire McCartney, said:  “Even though the economy is no longer flat on its back, the ‘real economy’ as experienced in the day-to-day lives of workers is crippled. If the economy does ‘officially’ emerge from recession today, employers are going to have to continue to work hard to re-build motivation and commitment among employees bruised by job insecurity, lack of consultation over change, pay freezes or cuts, as well as increases in stress and conflict.

“Current high levels of youth unemployment are well documented, but our survey lifts the lid on the simmering discontent caused by the recession among even those young people fortunate enough to have a job.”