Press Release Archive
FT. LAUDERDALE, Fla., Nov. 2, 2007 -- The number of U.S. workers expressing confidence in the economy and in their personal employment situation decreased slightly in October, according to a recent survey from Spherion Corporation of 2,948 working adults. The Spherion® Employee Confidence Index, a monthly gauge of overall worker confidence, decreased by 0.3 points to 56.4 in October, its lowest level this year. The survey, conducted by Harris Interactive® on behalf of Spherion Corporation (NYSE: SFN), reveals more than three-quarters of workers believed it was unlikely that they would lose their job in the next 12 months, but also shows that slightly fewer workers believe there are more jobs available and that the economy is getting stronger.
According to the Index, the percentage of workers who believe that more jobs are available decreased two percentage points to 24 percent from September. Seventeen percent of U.S. workers feel that the economy is getting stronger compared to 18 percent in the previous month. Conversely, worker confidence in their own job security remained high at 77 percent, dropping only two percentage points from September, while the percentage of workers who felt confident in the future of their current employer increased a single percentage point from September to 65 percent. In addition, 34 percent reported it was likely they would seek new jobs in the next 12 months, an increase of one percentage point from the previous month.
"While job and economic growth has looked quite solid over the past few months, our Index shows that many workers are still concerned about the overall health of the job market and economy," said Roy Krause, president and chief executive officer of Spherion Corporation. "Last month's decrease in overall confidence was minimal, however, and expected during periods of economic uncertainty. Our data still show majorities of workers remain confident in their own job security, their employers' future prospects and their ability to find a new job."
Krause continued, "The government's job reports from the past few months confirm that we still have a relatively healthy job market. We are seeing continued demand for skilled talent in both temporary and full-time positions across the country and we believe the forecast for job seekers remains bright as we head into the final months of the year."
Results from the October Spherion Employment Report:
Confidence Among Workers Declines: The Spherion Employee Confidence Index was largely unchanged in October at 56.4, falling 0.3 points from September to its lowest level this year. The Index, which measures workers' confidence in their personal employment situation and optimism in the macroeconomic environment, declined as fewer workers were optimistic about the availability of jobs. In addition, more than three-quarters, or 77 percent of workers believe it is unlikely they will lose their job in the next 12 months, compared to 79 percent in September.
Details of the Index:
- 17 percent of U.S. adult workers believe the economy is getting stronger, compared to 18 percent in the previous month.
- The percentage of U.S. adult workers who believe that more jobs are available decreased two percentage points to 24 percent from September.
- 65 percent of U.S. adult workers feel confident in the future of their current employer, an increase of one percentage point compared to September.
- The percentage of U.S. adult workers confident in their own ability to find a new job remained unchanged at 58 percent from the previous month.
Job Security: More Workers Believe it is Unlikely they will Lose Their Job
- 77 percent of U.S. workers believe that it is unlikely that they will lose their jobs in the next twelve months, a decrease of two percentage points from September.
Job Transition: More Workers Likely to Look for a New Job
- 34 percent of workers are likely to look for a new job in the next 12 months, compared to 33 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 October 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 2,948 employed adults, aged 18 years and older, was interviewed in a series of two polls conducted between October 3-5 and October 8-10, 2007 (September 2007 n= 2,897). 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 2,897 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 sourced, 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 700 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 more than 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/.
SOURCE: Spherion Corporation
CONTACT: Kip Havel of Spherion Corporation, +1-800-422-3819,