The Spherion Employee Confidence Index increased by one point to 50.1 in January. The index, which measures workers' confidence in their personal employment situation and optimism in the economic environment, shows that more workers are optimistic about the strength of the economy and job availability. However, workers also revealed that they are slightly less confident in their own job security and the future of their current employers.
"I am pleased with the slight uptick in worker confidence this month," said Roy Krause, president and CEO of Spherion Corporation. "It aligns with encouraging signs from our customers. Many expect a better year in 2010 but remain somewhat conservative in their hiring plans, waiting for positive job creation. Many companies that cut staff levels to the bone over the last 18 months are starting to add more professionals on a temporary basis in order to meet renewed demand with a more variable workforce. The flipside of any positive employment activity is a cautionary tale of turnover. While deteriorating market conditions forced tough decisions in order to streamline operations, we continue to advise our clients not to do away with retention efforts. Ignore the talent you have and you may have a workforce that feels disengaged – and questioning whether or not to stick around. Economic conditions that held workers back over the last year or so will dissipate and many people will re-evaluate what their job really means to them. One thing is for sure: there is still a lot of work to be done towards reaching a full economic recovery, but I feel confident that we are picking up the pace and moving in the right direction."
Confidence in Overall Situation:
The Spherion Employee Confidence Index increased by one point to 50.1 in January. the index, which measures workers' confidence in their personal employment situation and optimism in the economic environment, shows that more workers are optimistic about the strength of the economy and job availability. However, workers also revealed that they are slightly less confident in their own job security and the future of their current employers.
Confidence in Macroeconomic Environment:
- Twenty-eight percent of U.S. workers believe the economy is getting stronger, up 4 percentage points from December.
- Sixty-two percent of workers surveyed believe there are fewer jobs available, dropping 6 points from the previous month.
Confidence in Personal Employment Situation:
- The number of workers confident in their ability to find a new job increased by 1 percentage point to 39 percent in January.
- The percentage of workers reporting confidence in the future of their current employers decreased by 3 percentage points to 61 percent in January.
Job Security:
Sixty-seven percent of workers say they are unlikely to lose their jobs in the next year, decreasing 3 percentage points from the previous month.
Job Transition:
Thirty-three percent of workers are likely to look for a new job in the next 12 months, representing a decrease of 3 percentage points from last month's reading.
Confidence by Gender:
- In January, more men than women believe the economy is getting stronger. Specifically, 33 percent of men and 22 percent of female workers cited this.
- More females than males are confident in the future of their current employer, with 64 percent of women and 59 percent of men reporting confidence.
- More men than women reported that they are likely to job search in the next 12 months. In January, 35 percent of men and 29 percent of women reported the likelihood to job search.
Confidence by Age:
- Workers ages 35-44 are the most likely to believe the economy is getting stronger, with 36 percent of workers in this age group believing so.
- According to the latest results, 68 percent of workers ages 55 and over are confident in the future of their current employer, the highest among all age brackets in January.
- Forty-four percent of workers between the ages of 18-34 report that they are likely to look for a new job in the next year. This is the highest reading for all age brackets. On the contrary, only 18 percent of workers 55-and-over are likely to make a job transition in the next 12 months.
Confidence by Income:
- Workers earning $75,000 or greater are the most likely to believe the economy is getting stronger, with 32 percent indicating they believe so compared to 25 percent of those earning less than $35,000.
- Workers earning between $35,000 to $49,900 are the least confident in the future of their current employer, with 57 percent expressing confidence; while workers earning $50,000 to $74,900 are the most optimistic, with 68 percent reporting confidence.
- Forty-two percent of workers earning between $35,000 to $49,900 are likely to look for a new job in the next year. This is the highest reading across all income cohorts.
