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Florida Employment Report: Overall Worker Confidence Grows Weaker Amid Concerns About Economy, Job Market and Personal Employment Situation
FORT LAUDERDALE, Fla., March 7, 2008 – The Florida Employee Confidence Index reached a new low in January, decreasing 1.4 points to 47.1, according to the latest Spherion® Employment Report. The monthly survey of Florida workers, conducted by Harris Interactive® on behalf of Spherion Corporation, reveals that more workers are concerned about the economy, the job market and their ability to find a new job. Despite a drop in overall confidence, these growing concerns did not put a damper on workers’ likelihood to look for a new job.
Results from the Florida Employment Report:
- Nearly two-thirds (65 percent) of Florida workers believe that the economy is getting weaker, a slight decrease of three points from December.
- Fifty-three percent of Florida workers believe there are fewer jobs available, compared to 46 percent in the previous month.
- Fewer workers are confident in their ability to find a new job. Specifically, 43 percent of workers are optimistic versus 47 percent in December.
- Nearly half (46 percent) of workers reported that they are likely to job search in the next year, an increase of seven percentage points from December.
“Our survey shows that recent concerns about a looming economic recession may be playing a role in worker’s decreasing confidence levels. With this growing uncertainty, it is more important than ever for companies to hone in on their recruitment and retention efforts,” said Paula Franco, branch manager for Spherion Staffing Services in Florida. “As the pool of available talent shrinks, companies who provide work-life balance incentives and a competitive salary will prove to be the most equipped to attract skilled workers. The demand for workers is higher in some areas than others. In our own business, we are seeing most of it in the accounting and finance, technology, customer service and call center industries.”
| January 2008 Employment Report Results | Florida Workers | U.S. Workers | |||||
| Dec | Jan | % Point Change | Dec | Jan | % Point Change | ||
| Economy | Getting Stronger | 10% | 6% | -4 | 12% | 9% | -3 |
| Staying Same | 25% | 29% | +4 | 30% | 23% | -7 | |
| Getting Weaker | 68% | 65% | -3 | 58% | 68% | +10 | |
| Job Availability | More Jobs | 18% | 14% | -4 | 19% | 16% | -3 |
| Same Amount | 35% | 33% | -2 | 37% | 32% | -5 | |
| Fewer Jobs | 46% | 53% | +7 | 45% | 52% | +7 | |
| Ability to Find New Job | Confident | 47% | 43% | -4 | 55% | 52% | -3 |
| Neutral | 31% | 42% | +11 | 29% | 31% | +2 | |
| Not Confident | 22% | 14% | -8 | 17% | 17% | 0 | |
| Future of Current Employer | Confident | 62% | 60% | -2 | 64% | 63% | -1 |
| Neutral | 21% | 25% | +4 | 23% | 23% | 0 | |
| Not Confident | 16% | 15% | -1 | 9% | 12% | +3 | |
| Likelihood to Lose Job | Likely | 15% | 20% | +5 | 13% | 12% | -1 |
| Neutral | 16% | 15% | -1 | 9% | 12% | +3 | |
| Not Likely | 69% | 65% | -4 | 78% | 77% | -1 | |
| Likelihood to Look for New Job | Likely | 39% | 46% | +7 | 32% | 38% | +6 |
| Neutral | 11% | 13% | +2 | 11% | 10% | -1 | |
| Not Likely | 50% | 41% | -9 | 57% | 52% | -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.
Methodology
The January 2008 Spherion® Employment Report was conducted online within the United by Harris Interactive on behalf of Spherion Corporation between January 7 and 9 and January 16 and 18, 2008 among a U.S. sample of 3,137 employed adults, aged 18 years and older, of whom 141 are employed in Florida (for Dec 2007 n=158). Results were weighted as needed for age, sex, race/ethnicity, income, education and region. Propensity score weighting was also used to adjust for respondents’ propensity to be online.
All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, Harris Interactive avoids the words “margin of error” as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.
Respondents for this survey were selected from among those who have agreed to participate in Harris Interactive surveys. The data have been weighted to reflect the composition of the U.S. adult population. Because the sample is based on those who agreed to be invited to participate in the Harris Interactive online research panel, no estimates of 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.
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 one of the largest and 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.
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