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Illinois Employment Report: Employee Confidence Index Reaches Lowest Level in Past Year; More Workers Concerned About Job Loss and Economy

CHICAGO, Ill., November 15, 2007 – The Illinois Employee Confidence Index decreased slightly to 51.4, dropping 0.8 points in October, according to the latest Spherion® Employment Report. The monthly survey of Illinois workers, conducted by Harris Interactive® on behalf of Spherion Corporation (NYSE:SFN), indicates that more workers are concerned about the strength of the economy and their job security.

Results from the Illinois Employment Report:

  •  Sixty-three percent of workers believe that the economy is getting weaker, an increase of 14 percentage points from the 49% who reported this in the previous month.
  • More workers are concerned about job loss, with 19 percent reporting that they believe they are likely to lose their job in the next year, an 11-percetage-point increase from September.
  • Forty-two percent of workers are likely to look for a new job in the next 12 months, an increase of 15 percentage points from the previous month.

 

“Concerns over the economy are widespread across the country, but our unemployment rate decreased in September and jobs continue to be created across the state -- a good sign heading into the end of the year,” explained Michael Ruter, managing director of Spherion Professional Services in Chicago. “Overall, the state has seen positive job growth this year, especially in the insurance sectors, as well as positions in IT.”

October Employment Report Results Illinois Workers U.S.  Workers
  Sep Oct % Point Change Sep Oct % Point Change
Economy Getting Stronger  12% 13% +1 18% 17% -1
Staying Same 40% 24% -16 38% 38%  0
Getting Weaker 49% 63% +14 44% 46%  +2
Job Availability More Jobs 21% 18% -3 26% 24% -2
Same Amount 34% 41% +7 35% 38% +3
Fewer Jobs 45% 41% -4 39% 39% 0
Ability to Find New Job Confident 54% 50% -4 58% 58% 0
Neutral 28% 34% +6 27% 27% 0
Not Confident 18% 16% -2 15% 15% 0
Future of Current Employer Confident 64% 63% -1 64% 65% +1
Neutral 17% 23% +6 23% 23% 0
Not Confident 20% 16% -6 13% 12% -1
Likelihood to Lose Job Likely 8% 19% +11 11% 11% 0
Neutral 13% 6% -7 10% 12% +2
Not Likely 79% 74% -5 79% 77% -2
Likelihood to Look for New Job Likely 27% 42% +15 33% 34% +1
Neutral 13% 4% -9 13% 13% 0
Not Likely 60% 54% -6 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 October 2007 Spherion® Employment Report is based on data from a Harris Interactive® QuickQuerySM online omnibusconducted on behalf of Spherion Corporation. A U.S. sample of 2,948 employed adults, aged 18 years and older, of whom 117 are employed in Illinois (for Sep 2007 n=139), was interviewed in a series of two polls conducted between October 3-5 and October 8-10, 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 2,948 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 Illinois state sample results would be +/- eight 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 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 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 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 www.harrisinteractive.com.

To become a member of the Harris Poll Online and be invited to participate in online surveys, register at www.harrispollonline.com.

IL-Emp-Rep-Oct07-PDF
Click here for a PDF of the Report (86 KB)

 
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