Press Release Archive
FORT LAUDERDALE, Fla., January 8, 2009 – The Spherion Employee Confidence Index showed no change in December, remaining at 49.1. The Index, which measures workers’ confidence in their personal employment situation and optimism in the economic environment, reveals that more workers are confident in the overall strength of the economy, despite slightly fewer reporting confidence in their personal employment situations.
“Our latest report mirrors what we are hearing from both candidates and customers—many are at a standstill, waiting until job loss flattens out in anticipation of the ultimate upturn,” said Roy Krause, president and CEO of Spherion Corporation. “That being said, we are seeing some encouraging signs that suggest a turnaround is near. One clear signal is a rise in the number of temporary workers, which has steadily increased since August 2009. Companies look first to this segment of the workforce in volatile economic times to provide them with the resources they need to take advantage of any early improvement without fully committing to the fixed costs associated with permanent hires. Furthermore, we believe that the temporary workforce will not only expand over the next few years, but will be comprised of a greater number of more highly skilled workers, due to a growing desire for flexibility—by both employers and job seekers—particularly accountants, information technology, human resources, healthcare, and marketing and sales professionals. Additionally, Baby Boomers choosing to delay retirement or those looking to re-enter the workforce for supplemental income will be more likely to look for project or temporary assignments over the next few years.The severity of this recession will likely increase businesses’ desire for a variable workforce, and workers’ desire to ‘work smarter’ and carve out their own career paths.”
A Look Inside the Report:
Confidence in Overall Situation:
The Spherion Employee Confidence Index showed no change in December, remaining at 49.1. The Index, which measures workers’ confidence in their personal employment situation and optimism in the economic environment, reveals that more workers are confident in the overall strength of the economy, despite slightly fewer reporting confidence in their personal employment situations.
Confidence in Macroeconomic Environment:
- Twenty-four percent of U.S. workers believe the economy is getting stronger, up one percentage point from November.
- Sixty-eight percent of workers surveyed believe there are fewer jobs available, showing no change from the previous month.
Confidence in Personal Employment Situation:
- The number of workers confident in their ability to find a new job decreased by one percentage point to 38 percent in December.
- The percentage of workers reporting confidence in the future of their current employers decreased by one percentage point to 64 percent in December.
- Seventy percent of workers say they are unlikely to lose their jobs in the next year, showing no change from November.
- Thirty-six percent of workers are likely to look for a new job in the next 12 months, representing a decrease of one percentage point from last month’s reading.
Confidence by Gender:
- In December, more men than women believe the economy is getting stronger. Specifically, 27 percent of men and 21 percent of female workers cited this.
- More males than females are confident in their ability to find a new job in December, with 41 percent of men and 34 percent of women reporting confidence.
- Equal amounts of men and women reported that they are likely to job search in the next 12 months. In December, 36 percent of men and women reported the likelihood to job search.
Confidence by Age:
- Workers ages 18-34 are the most likely to believe the economy is getting stronger, with 27 percent of workers in this age group believing so.
- According to the latest results, 69 percent of workers ages 55+ are confident in the future of their current employer, the highest among all age brackets. Sixty-three percent of workers in all other age brackets reported confidence in December.
- Forty-nine percent of workers between the ages of 18-34 report that they are likely to look for a new job in the next year. This is the highest reading for all age brackets. On the contrary, only 19 percent of workers 55+ are likely to make a job transition in the next 12 months.
Confidence by Income:
- Workers earning $75K or greater are the most likely to believe the economy is getting stronger, with 29 percent indicating they believe so compared to 17 percent of those earning less than $35K.
- Workers earning less than $35K are the least confident in the future of their current employer, with 56 percent expressing confidence; while workers earning $75K or greater are the most optimistic with 71 percent reporting confidence.
- Forty-seven percent of workers earning less than $35K are likely to look for a new job in the next year. This is the highest reading across all income cohorts for the fifth consecutive month.
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 575 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 SourceRight Solutions for recruitment process outsourcing, managed services and contractor compliance programs. To learn more, visit www.spherion.com.