Financial Concerns Escalate
After spiking to 44 percent in March, the number of workers who said their finances were improving has slipped to 41 percent in May, marking the fewest employees to make this statement since December. This figure fell one point from April. There was also a one-point dip to 45 percent in the number of workers who described their finances favorably in May.
"Record gas prices this early in the year have increased workers' anxiety when it comes to their finances," said Robert Morgan, president, Hudson Talent Management. "To help ease this burden, which will likely only intensify in the summer months, employers should consider supporting their staff with gas-saving initiatives including carpooling, flextime and telecommuting."
Hiring Expectations Point to Uncertainty
Following six consecutive months of stability or steady improvements, the number of workers forecasting hiring inched down a point to 32 percent in May. On the other hand, more managers said they expected their employer to add staff, boosting this group's overall measure of confidence.
*Results are not seasonally adjusted. Next month's Hudson Employment Index will be released on July 3. Please note that this is one day earlier than it is typically released due to the July 4th holiday.
The Hudson Employment Index
The Hudson Employment Index is based on monthly telephone surveys with approximately 9,000 U.S. workers. The Index tracks aggregate employment trends regarding career opportunities, hiring intentions, job satisfaction and retention.
Data reported in this release is based on a national telephone survey of 9,223 working Americans during the month of May.
