Press Release Archive
FT. LAUDERDALE, Fla., July 6, 2007 -- More U.S. workers believed in a strengthening economy and job market in June, despite declining confidence in their ability to find a new job themselves, according to a recent survey of 3,136 working adults. The Spherion® Employee Confidence Index, a monthly gauge of overall worker confidence, increased 1.2 points to 58.7 in June, its highest number since February. The survey, conducted by Harris Interactive® on behalf of Spherion Corporation (NYSE: SFN), also shows that over three-fourths (77%) of workers remain confident that they will not lose their jobs in the next year.
According to the Index, the percentage of workers who believe there are more jobs available increased four percentage points to 27 percent. Despite this rise, the percentage of workers lacking the confidence in their ability to find a new job increased by two percentage points, to 14 percent.
"Recent economic reports about the manufacturing sector and inflation suggest that the U.S. economy is in good shape and workers are certainly feeling this in their pocketbooks, as both incomes and personal spending have recently risen," said Roy Krause, president and chief executive officer of Spherion. "In addition to all of this, the job market is still quite healthy as employers add to their payrolls on a consistent basis. Even though total job growth has slowed in comparison to 2006, it's much more difficult to find skilled workers this year. Market dynamics are forcing companies to be more creative and the most emergent employers are offering additional recruiting and retention incentives to remain competitive."
Results from the June Spherion Employment Report:
Employee Confidence Index: Worker Confidence Highest Since February: The Employee Confidence Index increased 1.2 points to 58.7 in June, reaching its highest point since February 2007. The Index, which measures workers' confidence in their personal employment situation and optimism in the macroeconomic environment, reveals that more workers were confident about the economy and job market.
- Macroeconomic Confidence Index Increases: The Macroeconomic Confidence Index rose 2.8 points point to 43 in June, as more workers reported optimism in job availability and the strength of the economy. The Index level is 2.7 points higher than a year ago.
Specific findings from the Macroeconomic Confidence Index include:
- 21 percent of U.S. adult workers believe the economy is getting stronger, compared to 19 percentage points in the previous month.
- 27 percent of U.S. adult workers believe that more jobs are available, up four percentage points from May.
- Personal Confidence Index Dips Slightly: The Personal Confidence Index decreased 0.6 points to 74.3 in June, as the percentage of workers not confident in their ability to find a new job increased.
Specific findings from the Personal Confidence Index include:
- 14 percent of U.S. adult workers are not confident in their own ability to find a new job, compared to 12 percent in May.
- 65 percent of U.S. adult workers feel confident in the future of their current employer, showing no change from May.
Job Security Index: Worker Confidence in Their Job Security Remains Strong
- 77 percent of U.S. workers believe that it is unlikely that they will lose their jobs in the next twelve months. The Job Security Index is one percentage point lower than the level recorded in May and a year ago.
Job Transition Index: Over Half of Workers Do Not Plan to Look for a New Job in the Next 12 Months
- Over half (55%) of workers are unlikely to look for a new job in the next 12 months; one-third (34%) of workers do plan to look. For the second consecutive month, the Job Transition Index remained at 34 percent. The Index is two percentage points lower than the level in June 2006.
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 that measures employees' overall confidence in the economy, their employer and their ability to find other employment. The Employee Confidence Index is calculated from the results of four components that reflect these aspects of employee confidence. For each component item a 'score' is calculated 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, with each score ranking on a scale from 0 (no confidence) to 100 (complete confidence). A reading above 50 indicates a positive confidence level.
The June 2007 Spherion Employment Report is based on data from the Harris Interactive QuickQuery(SM) online omnibus conducted monthly by Harris Interactive® on behalf of Spherion Corporation. A U.S. sample of 3,136 employed adults, aged 18 years and older, was interviewed in a series of two polls conducted between June 4-6 and June 11-13, 2007 (May 2007 n= 3,422). Figures for age, sex, race/ethnicity, income, education and region were weighted where necessary to bring them into 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 3,136 U.S. employed adults, one could say with a 95 percent probability that the overall results would have a sampling error of +/- 2 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.
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 more than 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 nearly 300,000 people annually through its network, Spherion is one of North America's largest employers. To learn more, visit http://www.spherion.com/. For up- to-date career tips and trends, visit Spherion's career blog, The Big Time(SM), at http://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 innovative research, 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 it believes to 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 subsidiaries Novatris in France and MediaTransfer AG in Germany, and through a global network of independent market research firms. More information about Harris Interactive may be obtained at http://www.harrisinteractive.com/.
To become a member of the Harris Poll Online and be invited to participate in online surveys, register at http://www.harrispollonline.com/.
SOURCE: Spherion Corporation
CONTACT: Kip Havel of Spherion Corporation, +1-800-422-3819, or