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Home News USA U.S. Employment Report: Employee Confidence Remains Virtually Unchanged in August 2010


U.S. Employment Report: Employee Confidence Remains Virtually Unchanged in August 2010
added: 2010-09-07

The SFN Group Employee Confidence Index remained virtually unchanged, decreasing 0.2 points to 48.2 in August. The index, which measures workers' confidence in their personal employment situation and optimism in the economic environment, reveals that slightly more workers believe the economy is getting weaker, although the percentage indicating that more jobs are available increased.

"Despite nominal movement in our latest Employee Confidence Index, there was quite a bit of good news inside our latest report," said Roy Krause, president and CEO of SFN Group, Inc. "Not only are workers feeling more secure in their current positions, but they are also feeling slightly more optimistic about the future of their current employers. While recent economic figures show a mixed bag, we need to look at the bigger picture. Looking back to where we were as a nation one year ago, things have improved significantly. Given the current trends within our recruiting and staffing business, we are continuing to see solid growth for temporary help services. This mirrors what has been reported nationally. In fact, temp services year-to-year performance was up 22.1 percent from August 2009. Until we start to see this positive trend flatten or pull back, we remain encouraged."

A Look Inside the Report:

Confidence in Overall Situation:

The SFN Group Employee Confidence Index remained virtually unchanged, dropping 0.2 points to 48.2 in August. The index, which measures workers' confidence in their personal employment situation and optimism in the economic environment, reveals that slightly more workers believe the economy is getting weaker, although the percentage indicating that more jobs are available increased.

Confidence in Macroeconomic Environment:

•Twenty-one percent of U.S. workers believe the economy is getting stronger, an increase of one percentage point from July. At the same time, 41 percent believe the economy is getting weaker (compared to 39 percent in July).

•Sixty-four percent of workers believe there are fewer jobs available, as compared to 62 percent the prior month. Ten percent believe there are more jobs available (versus eight percent in July).

Confidence in Personal Employment Situation:

•Sixty-one percent of workers are confident in the future of their current employer, an increase of two percentage points from the previous month.

•Forty percent of workers indicated confidence in their ability to find a new job, up from 39 percent in July.

Job Security:

•Seventy-two percent of workers believe that it is unlikely they will lose their jobs in the next 12 months, showing an increase of four percentage points from the prior month.

Job Transition:

•Fewer workers are likely to look for a new job in the next 12 months. Specifically, 33 percent of workers reported in August that they are likely to job search versus 37 percent in July.

Confidence by Gender:

•In August, 41 percent of both men and women believe the economy is getting weaker.

•Men displayed more confidence in their ability to find a new job versus women. Specifically, 43 percent of men are confident (compared to 37 percent of women).

Confidence by Age:

•Workers ages 18-34 were the most likely among all age brackets to believe the economy is getting stronger, with 24 percent reporting confidence.

•Sixty-two percent of workers 55+ indicated confidence in the future of their current employer — the highest among all age groups.

•Younger workers, specifically those 18-34 years old, are the most likely among all age brackets to indicate a likelihood of making a job transition in the next 12 months, with 44 percent believing a job change is likely.

Confidence by Income:

•Forty-five percent of workers earning $75K or greater revealed confidence in their ability to find a new job — the highest among all income cohorts.

•Workers earning less than $35K are the most likely to make a job transition in the next 12 months. This is the highest percentage amongst all income brackets, with 40 percent believing so.


Source: PR Newswire

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