Press Release Archive
FT. LAUDERDALE, Fla., July 8, 2005 — With job creation and economic expansion continuing at a healthy pace, the Spherion® Employee Confidence Index jumped two points in June to 57.8 as U.S. adult workers’ confidence in the economic situation rebounded and personal confidence rose in June. The June Employment Report survey, conducted by Harris Interactive® on behalf of Spherion Corporation (NYSE:SFN), also showed that workers continue to believe their jobs are secure, with 75 percent confident that their jobs won’t be eliminated in the next year.
The subscale Macroeconomic Confidence Index, which measures workers’ confidence in the overall economy and job market, increased from 39.2 in May to 42.6 in June, the largest month-over-month increase of this Index in the past year. More workers had confidence in both the job market and in the strength of the overall economy. The Personal Confidence Index, a subscale index measuring workers’ confidence in the future of their current employer and their ability to find a new job, increased for the second straight month, rising from 72.4 in May to 73.1 in June, as more workers reported confidence in the future of their current employer. For detailed information on the calculation of the Employee Confidence Index and its subscale measurements, please see the “About the Spherion Employment Report” section below.
“While job growth did not meet analysts’ expectations, we believe June was a good month for job seekers. Overall job creation was solid, jobless claims hit a four-month low and economic expansion continued at a steady pace,” said Roy Krause, Spherion president and chief executive officer. “And our Report shows that workers have definitely taken notice of the improving situation. While the overall macroeconomic outlook still shows some negativity, the 3.4-point increase in economic optimism was the most significant jump we have seen in a single month. Signs in our own business support this increased confidence, as demand for clerical and light industrial contingent workers has remained constant. Additionally, the continued demand for direct-hire positions is quite encouraging because it indicates that companies remain confident enough in their own business to make long-term workforce investments.”
Results from the June Spherion Employment Report:
Employee Confidence Index: U.S. Workers’ Confidence Increases
The Employee Confidence Index was 57.8 in June, rising two points from May as a result of a small increase in the number of workers expressing confidence in their personal employment situation and in the economic situation.
Macroeconomic Confidence Index: U.S. confidence in the macroeconomic environment increased to 42.6 in June, up by 3.4 points from 39.2 in May as more workers are confident in the job market and the overall economic situation.
Specific findings from Macroeconomic Confidence Index include:
- 23 percent of U.S. adult workers believe that more jobs are available, compared to 20 percent in May.
- 27 percent of U.S. adult workers believe the economy is getting stronger, up three percentage points from the previous month.
Personal Confidence Index: The U.S. Personal Confidence Index increased for the second straight month, rising from 72.4 in May to 73.1 in June. This increase was due to a slight increase in the percentage of workers who are confident in the future of their employer.
Specific findings from Personal Confidence Index include:
- 63 percent of adult workers in the U.S. feel confident in the future of their employer, up one percentage point from May.
- 58 percent of adult workers in the U.S. have confidence in their own ability to find a new job, unchanged from the prior month.
Job Security Index: Fewer Workers Feel That Their Job is Secure
75 percent of U.S. adult workers feel it is unlikely that their jobs will be eliminated in the next 12 months, compared to 77 percent in May.
Job Transition Index: U.S. Workers Less Likely to Look for New Job
37 percent of working adults in the U.S. said they are likely to look for a new job in the next 12 months, down two percentage points from the previous 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 and is scaled from 0 (no confidence) to 100 (complete confidence). A reading above 50 indicates a positive confidence level.
The June 2005 Spherion Employment Report is based on data from the Harris Interactive QuickQuerySM online omnibus conducted monthly by Harris Interactive® on behalf of Spherion Corporation. A U.S. sample of 2,664 employed adults, aged 18 years and older, was interviewed in a series of two polls conducted between June 8-10 and June 14-16, 2005 (for May 2005 n=2,789). Figures for age, sex, race/ethnicity, income, education and region were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting adjusted for respondents’ propensity to be online. Though this online sample is not a probability sample, in theory, with probability samples of this size, Harris Interactive estimates with 95 percent certainty that the results have a sampling error of plus or minus 2 percentage points of what they would be if the entire U.S. population of employed adults had been polled with complete accuracy.
Spherion Corporation is a leader in the staffing industry in North America, providing value-added staffing, recruiting and workforce solutions. Spherion has helped companies improve their bottom line by efficiently planning, acquiring and optimizing talent since 1946. To learn more, visit www.spherion.com.
About Harris Interactive®
Harris Interactive Inc. (www.harrisinteractive.com ), the 15th largest market research firm in the world, is a Rochester, NY-based global research company that blends premier strategic consulting with innovative and efficient methods of investigation, analysis and application. Known for The Harris Poll® and for pioneering Internet-based research methods, Harris Interactive conducts proprietary and public research to help its clients achieve clear, material and enduring results.
Harris Interactive combines its intellectual capital, databases and technology to advance market leadership through its U.S. offices and wholly owned subsidiaries, HI Europe in London (www.hieurope.com), Novatris in Paris (www.novatris.com ), and through an independent global network of affiliate market research companies. EOE M/F/D/V.
To become a member of the Harris Poll OnlineSM and be invited to participate in future online surveys, www.harrispollonline.com.