Nearly 80 Percent of Workers Remain Confident in Job Security
KANSAS CITY (PRNewswire), January 6 2008 - The confidence level of U.S. workers slightly decreased in December, according to a recent survey of 2,827 working adults.
The Spherion(R) Employee Confidence Index, a monthly gauge of overall worker confidence, decreased by 0.9 point to 52 in December, the lowest level recorded this year. The survey, conducted by Harris Interactive(R) on behalf of Spherion Corporation (NYSE:SFN) , revealed that while slightly fewer workers were optimistic about job availability, more were confident in the future of their current employer.
According to the Index, the percentage of workers who believed the economy was getting stronger was unchanged at 12 percent, while slightly fewer workers believed that are more jobs available. Despite this, the percentage of workers who are confident in the future of their current employer increased three percentage points from November to 64 percent.
In addition, the number of workers likely to look for a new job in the next year remains stable at 32 percent and nearly eight-in-ten (78 percent) workers feel that they are unlikely to lose their job in the next 12 months.
"With the continuing turmoil in the housing and credit markets and concerns of an overall slowing in the economy, it's not surprising that the Employee Confidence Index has continued its decline," said Roy Krause, president and chief executive officer of Spherion.
"This month's Index reached its lowest level in the past year, but not all of the data is negative. In fact, the majority of workers remain confident about their own job security and the future of their current employer. The data also shows that nearly a third of workers plan on finding a new job in the next year, indicating that this certainly isn't the time for employers to ease up on their retention and recruiting efforts. It's those employers who make the extra effort now to be recognized as an employer of choice who will reap the benefits from having top talent in the years to come," stated Krause.
Results from the December Spherion Employment Report:
Confidence Levels Hit Lowest Level of the Year: The Spherion Employee Confidence Index dropped to its lowest level this year, decreasing 0.9 points to 52 in December. The Index, which measures workers' confidence in their personal employment situation and in the macroeconomic environment, reveals that while more workers were apprehensive about the economy and job market, their confidence in the future of their current employers improved.
Details of the Index:
Macroeconomic Confidence:
-- 19 percent of U.S. adult workers believe there are more jobs available,
compared to 20 percent in the previous month.
-- The percentage of U.S. adult workers who believe the economy is getting
stronger remains unchanged at 12 percent.
Personal Confidence:
-- 64 percent of U.S. adult workers feel confident in the future of their
current employer, an increase of three percentage points since
November.
-- The percentage of U.S. adult workers who are confident in their own
ability to find a new job fell one percentage point from last month to
55 percent.
Job Security: Slightly Fewer Workers Believe it is Unlikely they will Lose
Their Job
-- 78 percent of U.S. workers believe that it is unlikely that they will
lose their jobs in the next twelve months, a decrease of one percentage
point from November.
Job Transition: Percentage of Workers Likely to Look for a New Job
Unchanged
-- 32 percent of workers are likely to look for a new job in the next 12
months, unchanged from last month.
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Help-Wanted Advertising Declined in All Nine U.S. Regions
KANSAS CITY (SLFP.com), December 30, 2007 - The Conference Board Help-Wanted Advertising Index -- a key measure of job offerings in major newspapers across America -- dipped one point in November. The Index now stands at 21. It was 29 one year ago.
In the last three months, help-wanted advertising declined in all nine U.S. regions. Steepest declines occurred in the Pacific (-12.8%), Mountain (-12.5%), and West North Central (-12.4%) regions.
In a statement, Ken Goldstein, labor economist at The Conference Board, said: "The forward indicators of labor market activity offer little hope that the labor market will be spared. The latest readings on print want-ad volume show some slowing in recent months, after slowly losing steam through the spring and summer. Data for online advertising also point to reduced job recruitment efforts. Initial unemployment claims have edged higher. It's not good news when more people are signing up for unemployment checks, and the average length of unemployment is lengthening. The JOLTS data (Job Openings and Labor Turnover) also showed remarkably little change through October. These forward indicators of labor market activity are consistent with slowing growth."
In November there were 4,072,600 online advertised vacancies, a decrease of 89,100 or -2.1 percent from the October level, according to The Conference Board Help-Wanted OnLine Data Series. There were 2.65 advertised vacancies online for every 100 persons in the labor force in November.
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