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California Employment Report: Confidence Index Reaches Record Low
added: 2008-01-18

The California Employee Confidence Index dropped 2.5 points to 50.3 in December, the lowest level seen in the history of this survey, according to the latest Spherion(R) Employment Report. This month's survey of California workers, conducted by Harris Interactive(R) on behalf of Spherion Corporation, indicates that California workers are becoming increasingly less confident in the job market, economy and in their personal employment situation. Despite a drop in overall confidence, the survey revealed that California workers are more likely to search for new jobs in the next 12 months.

Results from the California Employment Report:

- Sixty-three percent of workers believe the economy is getting weaker, an increase of nine percentage points from November.

- Thirty-five percent of employees are likely to look for new jobs, up seven percentage points from the previous month.

- Forty-seven percent of California workers believe there to be fewer jobs available, a 10 percentage point increase since November.

"Although we experienced a slight decline in employee confidence in December, employers remain optimistic in their hiring outlook for 2008," explained Lauren Steel, territory vice president for Spherion. "Despite the rising cost of gas, the decline in the housing market and the weakened economy, we are still continuing to see a steady period of hiring among all job sectors, especially in professional and business services, hospitality and leisure, and manufacturing. Turmoil in the housing market has actually increased demand in the mortgage industry for candidates who have experience with specialty mortgage solutions and reverse mortgages."


Source: PR Newswire

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