U.S. Workers Remain Confident

The Spherion Employee Confidence Index, which measures workers’ confidence in their personal employment situation and optimism in the economic environment, remained virtually unchanged in September, decreasing 0.5 points to 49.4. The Index reveals that although a higher percentage of U.S. workers believe the economy is getting stronger, slightly fewer workers are optimistic in their ability to find a new job.

“The recent variability seen in our Index over the last few months indicates that it will take a longer period of time to see consistent month-over-month increases in overall confidence,” said Roy Krause, president and CEO of Spherion Corporation. “Economists are forecasting job creation to start happening in the beginning of 2010, although many predictions point to the unemployment rate swelling, as those that have dropped out of the workforce entirely start job searching again at signs of a turnaround. There is no doubt that every sector of the economy has been affected by this economic downturn. Businesses, as well as consumers, are holding their breath in hopes that the worst of this is behind us — and I feel confident that we are getting closer to that point.”

Here are some facts from the report:

Confidence in Macroeconomic Environment:

• Twenty-seven percent of U.S. workers believe the economy is getting stronger, increasing three percentage points from August.
• Sixty-nine percent of workers surveyed believe there are fewer jobs available, showing no change from the previous month.

Confidence in Personal Employment Situation:

• The percentage of workers reporting confidence in the future of their current employers decreased by one percentage point to 63% in September.
• Fewer workers are confident in their ability to find a new job. Specifically, 38% compared to 40% registered in August.

Job Security:

• Seventeen percent of workers say it is likely they will lose their jobs in the next year, increasing two percentage points from last month’s reading.

Job Transition:

• Thirty-five percent of workers are likely to look for a new job in the next twelve months, representing no change from August.

Confidence by Gender:

• In September, more men and women believe the economy is getting stronger. Specifically, 29% of male workers and 24% of female workers cited this (compared to 27% and 21% reported in August).
• Fewer males and females are confident in their ability to find a new job in September. Specifically, 41% of males are confident (compared to 43% in August) and 35% of females are confident (compared to 38% the previous month).
• According to the latest results, 39% of men are likely to look for a new position, and 31% of females are likely to job search in the next 12 months.

Confidence by Age:

• Forty-one percent of workers ages 45-54 are confident in their ability to find a new job. This is the highest among all age groups and a four percentage point increase from August.
• Sixty-nine percent of workers 55 years and older are confident in the future of their employers — the highest across all age groups.
• Fifty-two 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.

Confidence by Income:

• When asked if they are likely to lose their job in the next 12 months, more workers across all earnings brackets responded that they are likely in September versus August.
• Nearly half (45%) of workers earning less than $35K are likely to look for a new job in the next year. This is the highest reading across all income cohorts for the second consecutive month.

Spherion Corporation is a leading recruiting and staffing company that provides integrated solutions and breakout specialties to meet the evolving needs of companies and job candidates. As an industry pioneer for more than 60 years, Spherion has sourced, screened and placed millions of individuals in temporary, temp-to-hire and full-time jobs.