Press Release Archive
FORT LAUDERDALE, Fla., July 2, 2009 – The Spherion Employee Confidence Index was virtually unchanged in June, decreasing 0.3 points to 48.0. The Index, which measures workers’ confidence in their personal employment situation and optimism in the economic environment, reveals that although slightly more workers believe the economy is getting weaker and fewer jobs are available, more workers are confident in the future of their current employer.
“Although our latest Index shows little change from last month, it still remains 1.9 points higher than its reading one year ago. With talks of the worst of the recession being behind us, more U.S. workers seem to be taking a middle-of-the-road stance in our latest confidence survey,” said Roy Krause, president and CEO of Spherion Corporation. “While there may be signs of a light at the end of the tunnel, a turnaround will not be felt quickly. We are advising our clients that the time to prepare for a rebound is now. Companies that have cut deep into both their front and back office staff will find it incredibly challenging to source, select, and onboard talent quickly in order to grow their business in the recovery. Another factor to consider is the potential number of currently employed workers likely to look for new employment once the economic situation improves. In fact, according to our latest survey of U.S. workers, 47 percent of workers age 18-34 are likely to look for a new job in the next 12 months. This should serve as a message to employers that clear communication and retention efforts should not only be of high priority during good times.”
A Look Inside the Report:
Confidence in Overall Situation:
The Spherion Employee Confidence Index was virtually unchanged in June, decreasing 0.3 points to 48.0. The Index, which measures workers’ confidence in their personal employment situation and optimism in the economic environment, reveals that although slightly more worker believe the economy is getting weaker and fewer jobs are available, more workers are confident in the future of their current employer.
Confidence in Macroeconomic Environment:
- Forty percent of workers believe the economy is getting weaker compared to 38 percent in the previous month. Twenty percent of workers believe the economy is getting stronger, showing no change from May.
- Seventy-two percent of workers surveyed believe there are fewer jobs available, increasing one percentage point from May. Conversely, only seven percent of U.S. adult workers surveyed believe there are more jobs available, down one percentage point from May.
Confidence in Personal Employment Situation:
- More workers reported confidence in the future of their current employers. Specifically, 66 percent versus 63 percent seen in May.
- Forty-two percent of U.S. adult workers reported confidence in their ability to find a new job, showing no change from the previous month.
- Sixteen percent of workers say it is likely they will lose their jobs in the next year, unchanged from May’s reading.
- Thirty-five percent of workers are likely to look for a new job in the next twelve months, increasing one percentage point from the previous month.
Confidence by Gender:
- In June, more men than women (22 percent versus 17 percent) believe the economy is getting stronger.
- Thirty-four percent of women are likely to look for a new job in the next year, compared to 35 percent of males. When measured against last month’s results, the percentage of females workers indicating a likelihood to do so increased by one percentage point.
- More men are confident in the future of their current employer in June. Specifically, 67 percent versus 62 percent in May.
Confidence by Age:
- Workers age 45+ were the only age groups surveyed that did not report more confidence in the future of their current employer in June. Workers between the ages of 34 and 44 showed the biggest increase in optimism, rising seven percentage points from May.
- Only workers age 55+ showed an increase in perceptions about the overall strength of the economy, with 24 percent indicating that they believe the economy is getting stronger in June (compared to 19 percent in May).
- Forty percent or more workers across all age groups are confident in their ability to find a new job.
Confidence by Income:
- Forty-five percent of workers earning between $50K-$74.9K report that they believe the economy is getting weaker, compared to 34 percent indicating this in May.
- With the exception of those workers earning more than $75K, the percentage of workers across all income brackets indicating that they are likely to look for a new job in the next year increased from May.
- Approximately one-quarter (24 percent) of workers with incomes less than $35K believe that they are likely to lose their jobs in the next 12 months. This is the highest reading across all income cohorts.
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.