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Employees less confident in July

Employees were less confident in their work situation in July than they were in June, according to the Spherion Employee Confidence Index. The index, which measures workers’ confidence in their personal employment situation and optimism in the economic environment, decreased 1.3 points to 46.7 in July.

“As month-over-month job losses and a historically high U.S. jobless rate continue to cast doubt on U.S. worker perceptions about the economy, a second consecutive drop in overall worker confidence is not surprising. Given that, our index still remains higher than what it registered at one year ago and mirrors the trends reported in the latest Conference Board Consumer Confidence results,” said Roy Krause, president and CEO of Spherion Corporation. “Many economists are predicting that further contraction in jobs will continue as we head into 2010. We have, however, seen some early signs of economic stabilization in our own business and are investing accordingly.”

The report indicated:

• Confidence in overall situation. The Spherion Employee Confidence Index decreased 1.3 points to 46.7 in July.

• Confidence in macroeconomic environment. Forty-three percent of workers believe the economy is getting weaker compared to 40% in the previous month. Sixteen percent of workers believe the economy is getting stronger, decreasing four percentage points from June. Along those lines, 72% (no change from June) believe there are fewer jobs available.

• Confidence in personal employment situation. Slightly fewer workers (64% compared to 66% in June) reported confidence in the future of their current employers.

• Job security.  About 15% say it is likely they will lose their jobs in the next year, decreasing only one percentage point from June’sreading.

• Job transition. Despite a drop in overall confidence, 34% of workers (compared to 35% in June) are likely to look for a new job in the next 12 months.

The survey was conducted by Harris Interactive. Spherion Corporation (www.spherion.com) is a recruiting and staffing company.


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