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DALLAS, Texas, January 18, 2008 – The Texas Employee Confidence Index fell 4.1 points to 52.9 in December, the lowest level seen in the history of this survey, according to the latest Spherion® Employment Report. The monthly survey of Texas workers, conducted by Harris Interactive® on behalf of Spherion Corporation (NYSE:SFN), showed that while fewer workers believe the economy is getting stronger and are confident in the future of their current employer, a greater number believe that more jobs are available. In addition, more workers are likely to look for a new job in the next 12 months.
Results from the Texas Employment Report:
- Thirteen percent of workers believe the economy is getting stronger, down 11 percentage points from 24 percent in November.
- Just over half (55 percent) of Texas workers are confident in the future of their current employer, down seven percentage points from the previous month.
- More workers are optimistic about job availability. Twenty-nine percent of workers reported an increase in the number of jobs available in December, compared to 26 percent in the previous month.
- Over a third (38 percent) of Texas workers report that they are likely to look for a new job in the next 12 months, up two percentage points from 36 percent in November.
“Although the Employee Confidence Index has continued to show a decline, workers are becoming increasingly more confident in the job market. According to the Department of Labor, the job growth in Texas is expanding at twice the rate of the rest of the country, especially in the business and professional services sector. This is consistent with the demand we are seeing from our clients,” said Kim Lockhart, director of operations for Spherion in Texas. “Compared to the rest of the nation, Texas has a solid economic foundation and now is a great time for job seekers to explore the many opportunities available.”
| December Employment Report Results | Texas Workers | U.S. Workers | |||||
| Nov | Dec | % Point Change | Nov | Dec | % Point Change | ||
| Economy | Getting Stronger | 24% | 13% | -11 | 12% | 12% | 0 |
| Staying Same | 26% | 35% | +9 | 32% | 30% | -2 | |
| Getting Weaker | 50% | 52% | +2 | 56% | 58% | +2 | |
| Job Availability | More Jobs | 26% | 29% | +3 | 20% | 19% | -1 |
| Same Amount | 37% | 36% | -1 | 39% | 37% | -2 | |
| Fewer Jobs | 37% | 36% | -1 | 41% | 45% | +4 | |
| Ability to Find New Job | Confident | 56% | 52% | -4 | 56% | 55% | -1 |
| Neutral | 32% | 30% | -2 | 30% | 29% | -1 | |
| Not Confident | 13% | 18% | +5 | 15% | 17% | +2 | |
| Future of Current Employer | Confident | 62% | 55% | -7 | 61% | 64% | +3 |
| Neutral | 26% | 25% | -1 | 25% | 23% | -2 | |
| Not Confident | 12% | 20% | +8 | 14% | 13% | -1 | |
| Likelihood to Lose Job | Likely | 12% | 15% | +3 | 11% | 13% | +2 |
| Neutral | 5% | 9% | +4 | 10% | 9% | -1 | |
| Not Likely | 83% | 76% | -7 | 79% | 78% | -1 | |
| Likelihood to Look for New Job | Likely | 36% | 38% | +2 | 32% | 32% | 0 |
| Neutral | 12% | 15% | +3 | 10% | 11% | +1 | |
| Not Likely | 53% | 47% | -6 | 58% | 57% | -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.
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.
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