"Recent economic reports about the manufacturing sector and inflation suggest that the U.S. economy is in good shape and workers are certainly feeling this in their pocketbooks, as both incomes and personal spending have recently risen," said Roy Krause, president and chief executive officer of Spherion. "In addition to all of this, the job market is still quite healthy as employers add to their payrolls on a consistent basis. Even though total job growth has slowed in comparison to 2006, it's much more difficult to find skilled workers this year. Market dynamics are forcing companies to be more creative and the most emergent employers are offering additional recruiting and retention incentives to remain competitive."
Results from the June Spherion Employment Report:
Employee Confidence Index: Worker Confidence Highest Since February: The Employee Confidence Index increased 1.2 points to 58.7 in June, reaching its highest point since February 2007. The Index, which measures workers' confidence in their personal employment situation and optimism in the macroeconomic environment, reveals that more workers were confident about the economy and job market.
- Macroeconomic Confidence Index Increases: The Macroeconomic Confidence Index rose 2.8 points point to 43 in June, as more workers reported optimism in job availability and the strength of the economy. The Index level is 2.7 points higher than a year ago.
Specific findings from the Macroeconomic Confidence Index include:
- 21 percent of U.S. adult workers believe the economy is getting stronger, compared to 19 percentage points in the previous month.
- 27 percent of U.S. adult workers believe that more jobs are available, up four percentage points from May.
- Personal Confidence Index Dips Slightly: The Personal Confidence Index decreased 0.6 points to 74.3 in June, as the percentage of workers not confident in their ability to find a new job increased.
Specific findings from the Personal Confidence Index include:
- 14 percent of U.S. adult workers are not confident in their own ability to find a new job, compared to 12 percent in May.
- 65 percent of U.S. adult workers feel confident in the future of their current employer, showing no change from May.
Job Security Index: Worker Confidence in Their Job Security Remains Strong
- 77 percent of U.S. workers believe that it is unlikely that they will lose their jobs in the next twelve months. The Job Security Index is one percentage point lower than the level recorded in May and a year ago.
Job Transition Index: Over Half of Workers Do Not Plan to Look for a New Job in the Next 12 Months
- Over half (55%) of workers are unlikely to look for a new job in the next 12 months; one-third (34%) of workers do plan to look. For the second consecutive month, the Job Transition Index remained at 34 percent. The Index is two percentage points lower than the level in June 2006.
