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NEW YORK, N.Y., November 15, 2007 – The New York Employee Confidence Index fell 2.7 points to 52.8 in October, its third consecutive monthly decline. 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), more workers report that they believe the economy is getting weaker. Additionally, while more workers lack confidence in their ability to find a new job, more are likely to job search in the next year.
Results from the New York Employment Report:
- Fifty-three percent of workers believe that the economy is getting weaker, a 13-percentage-point increase from September.
- More workers are concerned about their job prospects, with 16 percent reporting that they are not confident in their ability to find a new job, an increase of six percentage points from the previous month.
- Nearly a third of workers (31 percent) are likely to look for a new job, an increase of six percentage points from September.
| October Employment Report Results | New York Workers | U.S. Workers | |||||
| Sep | Oct | % Point Change | Sep | Oct | % Point Change | ||
| Economy | Getting Stronger | 13% | 15% | +2 | 18% | 17% | -1 |
| Staying Same | 47% | 32% | -15 | 38% | 38% | 0 | |
| Getting Weaker | 40% | 53% | +13 | 44% | 46% | +2 | |
| Job Availability | More Jobs | 19% | 17% | -2 | 26% | 24% | -2 |
| Same Amount | 36% | 39% | +3 | 35% | 38% | +3 | |
| Fewer Jobs | 44% | 44% | 0 | 39% | 39% | 0 | |
| Ability to Find New Job | Confident | 61% | 57% | -4 | 58% | 58% | 0 |
| Neutral | 29% | 27% | -2 | 27% | 27% | 0 | |
| Not Confident | 10% | 16% | +6 | 15% | 15% | 0 | |
| Future of Current Employer | Confident | 62% | 60% | -2 | 64% | 65% | +1 |
| Neutral | 21% | 25% | +4 | 23% | 23% | 0 | |
| Not Confident | 17% | 15% | -2 | 13% | 12% | -1 | |
| Likelihood to Lose Job | Likely | 10% | 8% | -2 | 11% | 11% | 0 |
| Neutral | 9% | 11% | +2 | 10% | 12% | +2 | |
| Not Likely | 81% | 81% | 0 | 79% | 77% | -2 | |
| Likelihood to Look for New Job | Likely | 25% | 31% | +6 | 33% | 34% | +1 |
| Neutral | 14% | 10% | -4 | 13% | 13% | 0 | |
| Not Likely | 61% | 58% | -3 | 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 231 are employed in New York (for Sep 2007 n=219), 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.
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.
To become a member of the Harris Poll Online and be invited to participate in online surveys, register at www.harrispollonline.com.
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