For the first time since May, the confidence level of U.S. workers dipped slightly in August, according to a recent survey from Spherion Corporation. The Spherion(R) Employee Confidence Index, a monthly gauge of overall worker confidence, decreased by 0.3 to 58.5 points in August, compared to 56.7 one year ago.


According to the Index, the percentage of workers who expressed confidence in the future of their current employer increased three percentage points to 67 percent. The number of workers confident in their ability to find a new job also increased, rising two percentage points to 62 percent.

"Given the slowed job growth, current housing market situation and stock market uncertainty, we were somewhat surprised that confidence in the economy and job market remained as high as it did, falling only a few percentage points from the previous month," said Roy Krause, president and chief executive officer of Spherion Corporation. "Overall, worker confidence is quite strong and is nearly two points higher than a year ago. They feel very confident about their job security, their current employer and their ability to find another job. All things considered, workers still appear to be quite optimistic about their prospects as we head into the fall."

Results from the August Spherion Employment Report:

Employee Confidence Index: Worker Confidence Decreases: The Employee Confidence Index was largely unchanged, decreasing 0.3 points to 58.5 in August from 58.8 in July. The Index, which measures workers' confidence in their personal employment situation and optimism in the macroeconomic environment, reveals that fewer workers believe more jobs are available, but also revealed increased confidence in their ability to find a job and the future of their current employer. The Index is 2.8 points higher than the level reported in August 2006.

Details of the Index:

Macroeconomic Confidence:

- 19 percent of U.S. adult workers believe the economy is getting stronger, compared to 20 percent in the previous month.
- 26 percent of U.S. adult workers believe that more jobs are available, down two percentage points from July.

Personal Confidence:

- 67 percent of U.S. adult workers feel confident in the future of their current employer, increasing three percentage points compared to July.
- 62 percent of U.S. adult workers are confident in their own ability to find a new job, up two percentage points from the previous month.

Job Security: More Workers Believe it is Unlikely they will Lose Their Job

- 80 percent of U.S. workers believe that it is unlikely that they will lose their jobs in the next twelve months, an increase of one percentage point from July.

Job Transition: More Workers Likely to Look for a New Job

- 37 percent of workers are likely to look for a new job in the next 12 months, compared to 36 percent in the previous month.