The SFN Group Employee Confidence Index rose by 3.9 points to 53.1 in April. The index, which measures workers' confidence in their personal employment situation and optimism in the economic environment, reveals an increase in workers' personal confidence in the future of their current employer and in their ability to find a new job.
"Our latest Index is very encouraging," said Roy Krause, president and CEO of SFN Group Inc. "Reaching its highest level since November 2007, this month's report indicates U.S. workers are not only feeling more personally confident in their employment situation, but they are also more optimistic about the strength of the economy. Coupled with this confidence, consumer spending rose at its fastest pace in three years, the U.S. economy grew at an annual rate of 3.2 percent in the first quarter, and the temporary help sector continued its positive trend since October 2009, posting a 26,200 gain in April. Although unemployment levels are still high, our economy added an average of about 140,000 jobs a month in the first four months of the year and temp jobs numbers are showing strong growth. This bodes well for our company and our industry and I feel confident in saying that the job market is beginning to turn the corner."
What follows is a look inside the report.
Confidence in Overall Situation:
- The SFN Group Employee Confidence Index rose by 3.9 points to 53.1 in April. The Index, which measures workers' confidence in their personal employment situation and optimism in the economic environment, reveals an increase in workers' personal confidence in the future of their current employer and in their ability to find a new job.
Confidence in Macroeconomic Environment:
- Thirty-one percent of U.S. workers believe the economy is getting stronger, up 7 percentage points from March.
- Sixty percent of workers surveyed believe there are fewer jobs available, decreasing 3 percentage points from the previous month.
Confidence in Personal Employment Situation:
- Forty-two percent of workers are confident in their ability to find a new job compared to 36 percent in March.
- The percentage of workers reporting confidence in the future of their current employers increased by 8 percentage points to 68 percent.
Job Security:
- Seventy-two percent of workers say they are unlikely to lose their jobs in the next year, decreasing 1 percentage points from the previous month.
Job Transition:
- Thirty-six percent of workers are likely to look for a new job in the next 12 months, increasing 1 percentage point from March's reading.
Confidence by Gender:
- Thirty-six percent of males believe the economy is getting stronger compared to 25 percent of females.
- When asked if they are confident in their ability to find a new job, more males reported optimism, with 47 percent of reporting confidence (vs. 37 percent of females).
- More females than males reported that they are likely to look for a new job in the next year (39 percent of females and 34 percent of males).
Confidence by Age:
- According to the latest results, 41 percent of workers ages 55 and older believe that the economy is getting stronger, the highest among all age brackets.
- Workers ages 18 to 34 are the most confident in the future of their current employer, with 86 percent of workers in this age group indicating so.
- Forty-nine percent of workers between the ages of 18 and 34 are likely to look for a new job in the next year. This is the highest among all age brackets.
Confidence by Income:
- Workers earning $75,000 or greater are the most confident in the strength of the economy, with 40 percent indicating so compared to 20 percent of those earning between $35,000 and $49,900.
- Forty-two percent of workers earning less than $35,000 are the most likely to look for a new job in the next year. This is the highest reading across all income cohorts.
- Twenty-nine percent of workers earning less than $35,000 are confident in their ability to find a new job vs. 50 percent of workers earning more than $75,000.
