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CONTENT > EVALUATE
Spherion Employee Confidence Index Declines Two Points in June
FORT LAUDERDALE, Fla.—July 7, 2006—According to a recent announcement regarding the latest Spherion Corp. employment surveys, U.S. workers in June were less confident in the economy and their ability to find a job following three months of tepid job creation. As a result, the Spherion Employee Confidence Index dropped two points to 56.7, a level that is 1.1 points lower than in June 2005.
Further, the survey of 2,959 employed adults in the U.S., conducted by Harris Interactive on behalf of Spherion, reportedly shows that only 19% of workers believe the economy is strengthening, down four percentage points from May, and 24% believe more jobs are available, down from 27% in May.
Fewer workers were optimistic about their personal employment situation in June as well, according to the announcement. Some 56% of workers reported confidence in their ability to find a new job, a drop of four percentage points from May. The percentage of workers confident in their employers’ future was virtually unchanged at 65% (a drop of one percentage point from May).
The announcement added that the drop in overall confidence did not affect workers’ outlook on their job security and had little impact on their plans to change jobs. In fact, the survey reportedly indicates that 78% of workers remain confident in their job security, a number that has shown little change in the past 12 months. In addition, 36% of workers said they were likely to change jobs in the next year, down two percentage points from May.
“The latest employment report indicates a sizeable decline in worker confidence and it’s not surprising, given the effect of high energy prices this summer and the tepid job creation over the past few months,” said Roy Krause, Spherion president and chief executive, in the announcement. “But the economic picture is not as dreary as some may believe. The upward revision to first quarter GDP and increased job creation in June are signs that the economy has been and continues to be in a growth mode. This growth has resulted in greater corporate spending and a steady demand for skilled workers. Given the current situation, we see further job growth and economic expansion ahead.
“One of the most telling signs from this report is that workers’ job security remains very high,” Krause added. “A high level of job security can be looked at as a sign of stability in corporate America and the economy in general.”
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