Press Release Archive
FT. LAUDERDALE, Fla., Sept. 7 , 2007 -- For the first time since May, the confidence level of U.S. workers dipped slightly in August, according to a recent survey from Spherion Corporation (NYSE: SFN). The Spherion® Employee Confidence Index, a monthly gauge of overall worker confidence, decreased by 0.3 to 58.5 points in August, compared to 56.7 one year ago. The survey of 3,126 adults, conducted by Harris Interactive® on behalf of Spherion, indicates that fewer workers believe more jobs are available, but also reveals increased optimism in their ability to find a job and the future of their current employer.
According to the Index, the percentage of workers who expressed confidence in the future of their current employer increased three percentage points to 67 percent. The number of workers confident in their ability to find a new job also increased, rising two percentage points to 62 percent.
"Given the slowed job growth, current housing market situation and stock market uncertainty, we were somewhat surprised that confidence in the economy and job market remained as high as it did, falling only a few percentage points from the previous month," said Roy Krause, president and chief executive officer of Spherion Corporation. "Overall, worker confidence is quite strong and is nearly two points higher than a year ago. They feel very confident about their job security, their current employer and their ability to find another job. All things considered, workers still appear to be quite optimistic about their prospects as we head into the fall."
Results from the August Spherion Employment Report:
Employee Confidence Index: Worker Confidence Decreases: The Employee Confidence Index was largely unchanged, decreasing 0.3 points to 58.5 in August from 58.8 in July. The Index, which measures workers' confidence in their personal employment situation and optimism in the macroeconomic environment, reveals that fewer workers believe more jobs are available, but also revealed increased confidence in their ability to find a job and the future of their current employer. The Index is 2.8 points higher than the level reported in August 2006.
Details of the Index:
- 19 percent of U.S. adult workers believe the economy is getting stronger, compared to 20 percent in the previous month.
- 26 percent of U.S. adult workers believe that more jobs are available, down two percentage points from July.
- 67 percent of U.S. adult workers feel confident in the future of their current employer, increasing three percentage points compared to July.
- 62 percent of U.S. adult workers are confident in their own ability to find a new job, up two percentage points from the previous month.
Job Security: More Workers Believe it is Unlikely they will Lose Their Job
- 80 percent of U.S. workers believe that it is unlikely that they will lose their jobs in the next twelve months, an increase of one percentage point from July.
Job Transition: More Workers Likely to Look for a New Job
- 37 percent of workers are likely to look for a new job in the next 12 months, compared to 36 percent in the previous month.
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 August 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 3,126 employed adults, aged 18 years and older, was interviewed in a series of two polls conducted between August 6-8 and August 13-15, 2007 (July 2007 n= 2,970). 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 3,126 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 13th largest and one of the fastest-growing market research firms 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 North American, European and Asian offices, 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/.
CONTACT: Kip Havel of Spherion®, +1-800-422-3819,