- U.S. Job Growth Continues, but Workers’ Post-Hurricane Concerns Linger
Spherion Employee Confidence Index Little Changed in October
FT. LAUDERDALE, Fla., November 4, 2005 — According to recent government data, the U.S. economy and job market continue to expand, but the latest Spherion® Employment Report shows that U.S. adult workers have lingering concerns about the strength of the economy and job market following the recent hurricanes. The Spherion Employee Confidence Index, which measures U.S. adult workers’ confidence in their personal employment situation, declined 0.1 points to 54.1 in October, hitting its lowest level in the past year. Despite this continued doubt, more workers were preparing to find a new job. According to a recent survey of 2,685 employed adults in the U.S., 39 percent said they are likely to look for a new job in the next year. This is an increase of five percentage points from the prior month. The monthly Spherion Employment Report is conducted by Harris Interactive® on behalf of Spherion Corporation (NYSE:SFN).
· Personal Confidence Index Drops: For the first time in six months, the Personal Confidence Index dropped, declining 1.9 points to 72.2 in October. Fewer workers were confident in the future of their employer and in their ability to find a new job. The Index is 0.6 points lower than in a year ago, and is below the average of 73.3 over the past year.
Specific findings from Personal Confidence Index include:
63% of adult workers in the U.S. feel confident in the future of their employer, down three percentage points from September.
55% of U.S. adult workers in the U.S. have confidence in their own ability to find a new job, down three percentage points from September.
Job Security Index: Fewer Workers Feel Secure in Their Jobs
77% of U.S. adult workers feel it is unlikely that their jobs will be eliminated in the next 12 months, a decrease of two percentage points from the prior month.
Job Transition Index: More Workers Planning a Job Search
39% of U.S. working adults in the U.S said they are likely to look for a new job in the next 12 months, a five percentage point increase from September.
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