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NEW YORK, N.Y., June 14, 2007 – The New York Employee Confidence Index increased 5.1 points to 58.9 in May and hit its highest level since October 2006, according to the latest Spherion® Employment Report. The monthly survey of New York workers, conducted by Harris Interactive® on behalf of Spherion Corporation (NYSE:SFN), shows that more workers are confident in their ability to find a job and that more believe in the strength of the economy.
Results from the New York Employment Report:
- Sixty-one percent of workers are confident in their ability to find a new job, a twelve-percentage point increase from April.
- Fewer workers are concerned about the strength of the job market, with twenty-six percent saying they thought that more jobs were available, an increase of nine percentage points from April.
- The percentage of workers who believe the economy is getting stronger increased eight percentage points in May, with twenty-one percent of workers reporting they believe the economy is getting stronger.
“In May, the Confidence Index reached its highest level in the past eight months, and there are many positive signs in our report, especially in the areas regarding the economy and job market,” said Rich Mazelsky, regional vice president of Spherion Staffing Services. “Not only are workers confident in the macroeconomic situation, but we’re seeing an increased level of confidence in their ability to find a new job. And, given the current job situation in New York, workers should have plenty of opportunities to venture out and find a new job should they choose to. Despite reports of an economic slowdown, employers in New York are continuing to add full-time and flexible workers to their payrolls at a steady pace and we expect this trend to continue throughout the summer.”
| May Employment Report Results | New York Workers | U.S. Workers | |||||
| Apr | May | % Point Change | Apr | May | % Point Change | ||
| Economy | Getting Stronger | 13% | 21% | +8 | 19% | 19% | 0 |
| Staying Same | 40% | 34% | -6 | 39% | 37% | -2 | |
| Getting Weaker | 47% | 45% | -2 | 42% | 44% | +2 | |
| Job Availability | More Jobs | 17% | 26% | +9 | 25% | 23% | -2 |
| Same Amount | 40% | 39% | -1 | 36% | 39% | +3 | |
| Fewer Jobs | 43% | 35% | -8 | 38% | 38% | 0 | |
| Ability to Find New Job | Confident | 49% | 61% | +12 | 57% | 59% | +2 |
| Neutral | 34% | 27% | -7 | 29% | 29% | 0 | |
| Not Confident | 17% | 12% | -5 | 14% | 12% | -2 | |
| Future of Current Employer | Confident | 70% | 65% | -5 | 66% | 65% | -1 |
| Neutral | 20% | 29% | +9 | 23% | 24% | +1 | |
| Not Confident | 10% | 7% | -3 | 11% | 12% | +1 | |
| Likelihood to Lose Job | Likely | 9% | 12% | +3 | 11% | 11% | 0 |
| Neutral | 13% | 10% | -2 | 11% | 11% | 0 | |
| Not Likely | 79% | 77% | -2 | 78% | 78% | 0 | |
| Likelihood to Look for New Job | Likely | 34% | 33% | -1 | 35% | 34% | -1 |
| Neutral | 10% | 16% | +6 | 11% | 13% | +2 | |
| Not Likely | 56% | 51% | -5 | 54% | 53% | -1 | |
About the Spherion Employment Report
As part of the Spherion® Emerging Workforce® Series of employment surveys, the monthly Spherion Employment Report provides a snapshot of the latest workforce trends across the country and is issued in conjunction with state and national labor market releases. Three key indices are measured: the Spherion Job Security Index, which captures how likely respondents think it is that they will lose their job or that their job will be eliminated in the next 12 months; the Spherion Job Transition Index, which captures how likely respondents are to look for a new job in the next 12 months; and the Employee Confidence Index, which measures employees’ overall confidence in the economy, the future of their employer, the availability of jobs, and their ability to find other employment. The Employee Confidence Index is based on these four components, with a ‘score’ calculated for each by taking the difference of the percentage of positive responses and the percentage of negative responses. These four scores are then averaged to indicate an overall level of employee confidence scaled from 0 (no confidence) to 100 (complete confidence). A reading above 50 indicates a positive confidence level.
Methodology
The May 2007 Spherion® Employment Report is based on data from a Harris Interactive® QuickQuerySM online omnibus conducted on behalf of Spherion Corporation. A U.S. sample of 3,422 employed adults, aged 18 years and older, of whom 231 are employed in New York (for Apr 2007 n=245), was interviewed in a series of two polls conducted between May 7-9 and May 15-17, 2007. Figures for age, sex, race/ethnicity, income, education and region were weighted where it is necessary to bring them in line with their actual proportions in the population. Propensity score weighting adjusted for respondents’ propensity to be online.
With pure probability samples, with 100 percent response rates, it is possible to calculate the probability that the sampling error (but not other sources of error) is not greater than some number. With a pure probability sample of 3,422 U.S. employed adults one could say with a 95 percent probability that the overall results would have a sampling error of +/- two percentage points, and the sampling error for the New York state sample results would be +/- six percentage points. However, that does not take other sources of error into account. This online survey is not based on a probability sample and therefore no theoretical sampling error can be calculated.
About Spherion
Spherion Corporation (NYSE:SFN) is a leading recruiting and staffing company that provides integrated solutions to meet the evolving needs of companies and job candidates. As an industry pioneer for 60 years, Spherion has screened and placed millions of individuals in temporary, temp-to-hire and full-time jobs. Positions range from administrative and light industrial to a host of professions that include accounting/finance, information technology, engineering, manufacturing, legal, human resources and sales/marketing.
With approximately 650 locations in the United States and Canada, Spherion delivers innovative workforce solutions that improve business performance. Spherion provides its services to more than 8,000 customers, from Fortune 500 companies to a wide range of small and mid-size organizations. Employing 375,000 people annually through its network, Spherion is one of North America’s largest employers. To learn more, visit www.spherion.com. For up-to-date career tips and trends, visit Spherion’s career blog, The Big TimeSM, at www.spherion.com/careerblog.
About Harris Interactive
Harris Interactive is the 12th largest and fastest-growing market research firm in the world. The company provides research-driven insights and strategic advice to help its clients make more confident decisions which lead to measurable and enduring improvements in performance. Harris Interactive is widely known for The Harris Poll, one of the longest running, independent opinion polls and for pioneering online market research methods. The company has built what could conceivably be the world’s largest panel of survey respondents, the Harris Poll Online. Harris Interactive serves clients worldwide through its United States, Europe and Asia offices, its wholly-owned subsidiary Novatris in France and through a global network of independent market research firms. The service bureau, HISB, provides its market research industry clients with mixed-mode data collection, panel development services as well as syndicated and tracking research consultation. More information about Harris Interactive may be obtained at www.harrisinteractive.com.
To become a member of the Harris Poll Online, visit http://go.hpolsurveys.com/PR.
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