According to the Index, the percentage of workers who believe that more jobs are available decreased two percentage points to 24 percent from September. Seventeen percent of U.S. workers feel that the economy is getting stronger compared to 18 percent in the previous month. Conversely, worker confidence in their own job security remained high at 77 percent, dropping only two percentage points from September, while the percentage of workers who felt confident in the future of their current employer increased a single percentage point from September to 65 percent. In addition, 34 percent reported it was likely they would seek new jobs in the next 12 months, an increase of one percentage point from the previous month.
"While job and economic growth has looked quite solid over the past few months, our Index shows that many workers are still concerned about the overall health of the job market and economy," said Roy Krause, president and chief executive officer of Spherion Corporation. "Last month's decrease in overall confidence was minimal, however, and expected during periods of economic uncertainty. Our data still show majorities of workers remain confident in their own job security, their employers' future prospects and their ability to find a new job."
Krause continued, "The government's job reports from the past few months confirm that we still have a relatively healthy job market. We are seeing continued demand for skilled talent in both temporary and full-time positions across the country and we believe the forecast for job seekers remains bright as we head into the final months of the year."
Results from the October Spherion Employment Report:
Confidence Among Workers Declines: The Spherion Employee Confidence Index was largely unchanged in October at 56.4, falling 0.3 points from September to its lowest level this year. The Index, which measures workers' confidence in their personal employment situation and optimism in the macroeconomic environment, declined as fewer workers were optimistic about the availability of jobs. In addition, more than three-quarters, or 77 percent of workers believe it is unlikely they will lose their job in the next 12 months, compared to 79 percent in September.
Details of the Index:
Macroeconomic Confidence:
- 17 percent of U.S. adult workers believe the economy is getting stronger, compared to 18 percent in the previous month.
- The percentage of U.S. adult workers who believe that more jobs are available decreased two percentage points to 24 percent from September.
Personal Confidence:
- 65 percent of U.S. adult workers feel confident in the future of their current employer, an increase of one percentage point compared to September.
- The percentage of U.S. adult workers confident in their own ability to find a new job remained unchanged at 58 percent from the previous month.
Job Security: More Workers Believe it is Unlikely they will Lose Their Job
- 77 percent of U.S. workers believe that it is unlikely that they will lose their jobs in the next twelve months, a decrease of two percentage points from September.
Job Transition: More Workers Likely to Look for a New Job
- 34 percent of workers are likely to look for a new job in the next 12 months, compared to 33 percent in the previous month.
