Press Release Archive
FORT LAUDERDALE, Fla., June 5, 2009 – The Spherion Employee Confidence Index increased 2.9 points to 48.3 in May. The Index, which measures workers’ confidence in their personal employment situation and optimism in the economic environment, rose as fewer workers believe the economy is getting weaker and more workers are optimistic in their ability to find a new job.
“It is definitely encouraging to see our latest overall Employee Confidence Index closer to the level reported this time last year. Despite this good news, clearly there are still lingering concerns about the economy and job market,” said Roy Krause, president and CEO of Spherion Corporation. “While many economists expect the U.S. jobless rate to surpass 10 percent by the year’s end, we are still seeing demand for skilled talent, especially in the professional services sector. In fact, in certain parts of the country, we are seeing employment opportunities increase. While job growth is certainly bleak compared to conventional measures, economic indicators now show declines that are less severe. Although it’s still too soon to say that the worst of this is over, we remain hopeful that we may be getting closer to a turn around.”
A Look Inside the Report:
Confidence in Overall Situation:
The Spherion Employee Confidence Index increased 2.9 points to 48.3 in May. The Index, which measures workers’ confidence in their personal employment situation and optimism in the economic environment, rose as fewer workers believe the economy is getting weaker and more workers are optimistic in their ability to find a new job.
Confidence in Macroeconomic Environment:
- Thirty-eight percent of workers believe the economy is getting weaker compared to 46 percent in the previous month. Twenty percent of workers believe the economy is getting stronger, an increase of four percentage points from April.
- Only eight percent of U.S. adult workers surveyed believe there are more jobs available, increasing three percentage points from April. At the same time, 71 percent of workers report that there are fewer jobs available, compared to 75 percent in the previous month.
Confidence in Personal Employment Situation:
- Fewer workers reported confidence in the future of their current employers. Specifically, 63 percent versus 65 percent seen in April.
- Forty-two percent of U.S. adult workers reported confidence in their ability to find a new job, an increase of four percentage points from the previous month.
- Sixteen percent of workers say it is likely they will lose their jobs in the next year, decreasing by two percentage points from April’s reading.
- Thirty-four percent of workers are likely to look for a new job in the next 12 months, showing no change from the previous month.
Confidence by Gender:
- In May, more men (24 percent) and women (16 percent) believe the economy is getting stronger when compared to the previous month. In addition, the percentage of males and females surveyed that believe the economy is getting weaker decreased.
- Male workers are more likely than females to look for a new job in the next year. Specifically, 36 percent of male workers are likely to job search in the next year compared to 33 percent of female workers.
- The percentage of male workers confident in their ability to find a new job increased by six percentage points to 48 percent (versus 36 percent of female workers) in May.
Confidence by Age:
- Workers age 18-34 reported less confidence in the future of their current employer in May compared to the previous month. Only those workers 55+ reported a slightly higher sense of optimism, with 71 reporting confidence versus 70 percent in April.
- Decreases were seen across all age groups in the percentage of workers that believe the economy is getting weaker in May.
- Forty-seven percent of workers age 45-54 are confident in their ability to find a new job — the highest across all age groups.
Confidence by Income:
- Eighteen percent of workers earning between $50K-$74.9K reported that they are likely to lose their job in the next 12 months, compared to 16 percent across all of other income brackets.
- Forty-eight percent of workers earning $75K or more are confident in their ability to find a new job, compared to 35 percent of those earning less than $35K.
- Thirty-six percent of workers with incomes less than $35K are likely to look for a new job in the next year compared to 47 percent in April.
Spherion Corporation (NYSE:SFN) is a leading recruiting and staffing company that provides integrated solutions and breakout specialties 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 630 locations in the United States and Canada, Spherion delivers innovative workforce solutions that improve business performance. Spherion provides its services to approximately 10,000 customers, from Fortune 500 companies to a wide range of small and mid-size organizations. Employing more than 215,000 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 www.spherion.com.