Here's one staffing firms take on the attitudes and confidence levels of job seekers. Do you share their sentiment? Read on...
Spherion Employee Confidence Index Rises 1.3 Points in May
- Despite Slowing Job Growth in May, More Workers Confident in Ability to Find New Job and Optimistic About Job Security
- Fewer Workers Concerned About Job Availability
- 57 Percent of Workers Believe Economy Strengthening or Remaining Stable
Despite the lower than expected job growth in May, U.S. workers' confidence rebounded after dropping to a five-month low in April. The Spherion(R) Employee Confidence Index jumped 1.3 points to 58.7, a level that is 2.9 points higher than a year ago. The recent survey of 2,894 employed adults in the U.S. conducted by Harris Interactive(R) on behalf of Spherion Corporation (NYSE:SFN), shows that 60 percent of workers are confident in their ability to find a new job (an increase of three percentage points from April 2006) and 66 percent are confident in their employers' future, up from 65 percent in April.
In addition, more workers are confident in the security of their jobs, with 78 percent saying they feel that their jobs will not be eliminated in the next 12 months. Workers' outlook on the job market was slightly improved in May as 27 percent say that more jobs are available, an increase of one percentage point. Workers' confidence in the economy was unchanged, however, with 57 percent saying the economy was either strengthening or remaining stable.
"Even though job creation in the last two months certainly hasn't been as strong as the first quarter, this rebound in worker confidence indicates that workers are feeling that they are gaining the upper hand in the job market," said Roy Krause, president and chief executive officer of Spherion. "The overwhelming majority of workers feel their jobs are secure and many say they are confident to go find a new job and plan to do so in the next year. This sentiment shouldn't be surprising to employers. With low unemployment rates and broad-based job creation, workers have more choices when deciding upon their next career move as competition for top talent is becoming even fiercer."
Employee Confidence Index: Confidence Increases in May
The overall May Employee Confidence Index was 58.7, rising 1.3 points from April. The Index, which measures workers' confidence in their personal employment situation and the macroeconomic environment, may have increased as a result of more workers reporting optimism in the job market, the future of their employer and their ability to find a new job. The Index level is 2.9 points higher than the level recorded in May 2005.
Macroeconomic Confidence Index Rises: The Macroeconomic Confidence Index increased to 42.1, a 0.6-point rise from April as more workers were confident about the availability of jobs. The Index level is 2.9 points higher than in May 2005. Specific findings from the Macroeconomic Confidence Index include:
27 percent of U.S. adult workers believe that more jobs are available, up one percentage point from April. -- 23 percent of U.S. adult workers believe the economy is getting stronger, showing no change from the previous month.
Personal Confidence Index Rebounds: The Personal Confidence Index was 75.3 in May, a two-point rise from April as more workers were confident in the future of their employer and their ability to find a job.
The Index level is 2.9 points higher than in May 2005. Specific findings from Personal Confidence Index include: - 66 percent of adult workers in the U.S. feel confident in the future of their employer, compared to 65 percent in April.
60 percent of adult workers in the U.S. have confidence in their own ability to find a new job, up three percentage points from the prior month. Job Security Index: More Workers Confident in Job Security
Rising for the first time in two months, the Job Security Index rebounded in May with 78% of participants saying it is unlikely their job will be eliminated in the next 12 months. The Index is up one point from May 2005. Job Transition Index: Percentage of Workers Planning to Search for New Job Unchanged
Holding steady for the second month in a row, 38 percent of U.S. workers said they are likely to look for a new job in the next 12 months. The Index is down one point from May 2005.
About the Spherion Employment Report