Press Release Archive
FT. LAUDERDALE, Fla., Sept. 5 /PRNewswire-FirstCall/ -- The Spherion Employee Confidence Index jumped 2.4 points to 47.6 in August, representing the first increase in the Index since May. The survey, conducted by Harris Interactive® on behalf of Spherion Corporation (NYSE: SFN) measures U.S. workers' confidence in their personal employment situation and optimism in the macroeconomic environment. The Index increased as workers' optimism about the economy and confidence in their ability to find a new job rose slightly. In addition, more than one-third (37 percent) of surveyed workers are likely to look for a new job in the next 12 months, an increase of four percentage points since July.
Specifically, the Index was boosted by increases in the percentage of workers that believe the economy is getting stronger and that more jobs are available. Job security remained stable, with over three-quarters (76 percent) of surveyed workers saying they are unlikely to lose their job in the next 12 months, unchanged since June.
"After months of decline, it is refreshing to see U.S. workers feeling more confident. Despite the uncertain economy, news of an upward revision to U.S. GDP growth in the second quarter, higher than expected worker productivity and lower energy prices likely support this jump in optimism," said William Grubbs, executive vice president and chief operating officer of Spherion Corporation. "As we head into the fourth quarter, the job market remains equally challenging for employers and candidates. As employers remain extremely selective in their hiring decisions, candidates now have to prove their worth more than ever in order to stand out in a much larger crowd."
Grubbs continued, "The sluggish economy has painted a somewhat grim picture for many sectors, but we are seeing a few bright spots in our own business. There continues to be a strong need for professional positions, particularly financial analysts, healthcare and warehousing professionals. Despite the economic slowdown, there still are opportunities out there given the right sector and location."
Results from the August Spherion Employment Report:
Overall Confidence Level Rebounds: The Spherion Employee Confidence Index jumped 2.4 points to 47.6 in August, representing the first increase in the Index since May. The Index, which measures workers' confidence in their personal employment situation and optimism in the macroeconomic environment, increased as workers optimism in the economy and confidence in their ability to find a new job strengthened. In addition, more workers said they are likely to look for new jobs in the next 12 months.
Details of the Index:
-- Eight percent of workers believe the economy is getting stronger, increasing three percentage points from July.
-- Eleven percent of U.S. adult workers believe there are more jobs available, an increase of one percentage point from the previous month.
-- Sixty-five percent of U.S. adult workers feel confident in the future of their current employer, a one percentage point decrease from July.
-- The percentage of U.S. adult workers confident in their ability to find a new job increased two percentage points from July to 51 percent.
Job Security: Over Three-quarters of Workers Say it is Unlikely They Will Lose Their Job
-- Seventy-six percent of U.S. workers say it is unlikely they will lose their jobs in the next 12 months, unchanged from June and July.
Job Transition: Percentage of Workers Likely to Look for a New Job Jumps
-- Thirty-seven percent of workers are likely to look for a new job in the next twelve months, an increase of four percentage point from the prior month.
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 that measures employees' overall confidence in the economy, their employer and their ability to find other employment. The Employee Confidence Index is calculated from the results of four components that reflect these aspects of employee confidence. For each component item a 'score' is calculated 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, with each score ranking on a scale from 0 (no confidence) to 100 (complete confidence). A reading above 50 indicates a positive confidence level.
This August 2008 Spherion Employment Tracker was conducted online within the United States by Harris Interactive on behalf of Spherion Corporation between August 6-8 and August 12-14, 2008 among a U.S. sample of 2,861 employed adults, aged 18 years and older (July 2008 n=3,161). 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.
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.
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. Spherion operates under the following brands: Spherion Staffing Services Group for administrative, clerical and light industrial workers; Technisource for technology professionals and solutions; The Mergis Group for accounting and finance and other professional positions; Todays Office Professionals for specialty administrative personnel; and Spherion Recruitment Process Outsourcing. To learn more, visit http://www.spherion.com/.
About Harris Interactive
Harris Interactive is a global leader in custom market research. With a long and rich history in multimodal research that is powered by our science and technology, we assist clients in achieving business results. Harris Interactive serves clients globally through our North American, European and Asian offices and a network of independent market research firms. For more information, please visit http://www.harrisinteractive.com/.
SOURCE: Spherion Corporation
CONTACT: Kip Havel of Spherion Corporation, +1-800-422-3819,