Worker Confidence Dips As Economic Uncertainty Continues

Dec 10, 2012 No Comments by

NEW YORK, Dec. 10, 2012 /PRNewswire/ – The Randstad Employee Confidence Index decreased last month to 51.7, breaking a previous two-month climb in confidence. In the November Index, employees showed increased uncertainty around the availability of new jobs and in the strength of the economy. Despite the decrease in optimism, the majority of U.S. workers (59 percent) maintain strong levels of confidence in their employers’ future. Additionally, slightly more workers expressed an increased sense of job security.

“November was a month of ups and downs for the U.S. labor market, but for the most part, our Index has remained fairly high given the mixed economic headlines,” said Jim Link, managing director of human resources for Randstad US. “With the presidential election behind us, economic anxiety still exists around the so-called fiscal cliff, potential sharp tax increases, and the economic outlook overseas. Yet, there are some very positive signs as we move into the last month of the year. The retail holiday season started off strong with more sales activity in stores and online when compared to 2011. Consumers are also more confident than we’ve seen since early 2008, the housing market is showing signs of recovery, and third quarter GDP growth was revised upward to 2.7 percent. Despite this welcoming news, the economy still remains fragile and the unemployment rate will likely show little movement as we close out 2012.”

Look Inside the Report:

Employee Confidence Decreases in November

  • The Employee Confidence Index decreased 2.6 points to 51.7 in November after increasing in both September (0.8 points) and October (1.9 points)

U.S. Workers Remain Uncertain Around the Economy and Jobs

  • November saw a seven percentage point increase in employees indicating they believe the economy is getter weaker (41 percent versus 34 percent last month)
  • Fifty-two percent of workers  believe fewer jobs are available, an increase of six percentage points over last month
  • Only 20 percent believe more jobs are available

Confidence Holds Strong for Employers’ Future and Personal Job Security

  • Most employees, 59 percent, continue to feel confident in the future of their current employers and companies
  • Almost three-quarters of employees also feel secure in their jobs, with 72 percent indicating it is unlikely they will lose their job in the next 12 months. This number has held strong throughout 2012

Employees Remain Optimistic Around Future Job Prospects

  • Forty-three percent of employees in November indicated they are confident in their personal ability to find a new job, however, a quarter of employees (25 percent) reported they were not confident in their ability to find a new job
  • More than a third of employees, 36 percent, are ready to move on to their next job, indicating it is likely they will transition to a new job in the next year

The Randstad U.S. Employee Confidence Index measures workforce trends across the country since 2004.

 

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