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NEW YORK, N.Y., December 20, 2007 – The New York Employee Confidence Index increased 0.8 points to 53.6 in November. 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 are optimistic about the amount of jobs available, but fewer are confident in the future of their current employer.
Results from the New York Employment Report:
- Twenty-three percent of workers believe there are more jobs available, a six percentage point rise from October.
- More than half (53 percent) of workers are confident in the future of their current employer, though this is a decrease of seven percentage points from October.
- Four in 10 workers (40%) are likely to look for new employment in the next year, an increase of nine percentage points from October.
“The employment situation and overall worker confidence stabilized somewhat in November, with unemployment remaining low and the Employee Confidence Index making a slight increase,” said Rich Mazelsky, regional vice president of Spherion Staffing Services. “It’s important to note that we continue to experience very strong job growth in a variety of industries, so those in our report who stated that they are likely to look for jobs should have many opportunities to do so.”
| November Employment Report Results | New York Workers | U.S. Workers | |||||
| Oct | Nov | % Point Change | Oct | Nov | % Point Change | ||
| Economy | Getting Stronger | 15% | 15% | 0 | 17% | 12% | -5 |
| Staying Same | 32% | 32% | 0 | 38% | 32% | -6 | |
| Getting Weaker | 53% | 53% | 0 | 46% | 56% | +10 | |
| Job Availability | More Jobs | 17% | 23% | +6 | 24% | 20% | -4 |
| Same Amount | 39% | 35% | -4 | 38% | 39% | +1 | |
| Fewer Jobs | 44% | 42% | -2 | 39% | 41% | +2 | |
| Ability to Find New Job | Confident | 57% | 55% | -2 | 58% | 56% | -2 |
| Neutral | 27% | 35% | +8 | 27% | 30% | +3 | |
| Not Confident | 16% | 12% | -4 | 15% | 15% | 0 | |
| Future of Current Employer | Confident | 60% | 53% | -7 | 65% | 61% | -4 |
| Neutral | 25% | 35% | +10 | 23% | 25% | +2 | |
| Not Confident | 15% | 12% | -3 | 12% | 14% | +2 | |
| Likelihood to Lose Job | Likely | 8% | 11% | +3 | 11% | 11% | 0 |
| Neutral | 11% | 11% | 0 | 12% | 10% | -2 | |
| Not Likely | 81% | 78% | -3 | 77% | 79% | +2 | |
| Likelihood to Look for New Job | Likely | 31% | 40% | +9 | 34% | 32% | +2 |
| Neutral | 10% | 8% | -2 | 13% | 10% | -3 | |
| Not Likely | 58% | 52% | -6 | 53% | 58% | +5 | |
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.
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 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.
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