According to the survey, the percentage of workers who expressed confidence in their own job security increased two percentage points from 77 percent in October to 79 percent in November, while the percentage of workers who felt confident in the future of their current employer decreased four percentage points from October to 61 percent. Nearly one-third of workers, or 32 percent, reported that it was likely that they would seek new jobs in the next 12 months, a decrease of two percentage points from last month.
"It appears that the volatile stock market, credit situation, housing slowdown and continued anxiety over fuel prices may be fueling apprehension among workers," said Roy Krause, president and chief executive officer of Spherion Corporation. "Though this month's Index decreased, data aggregated from specific survey questions indicate a clear majority of workers remain optimistic and confident about their own job security and the future of their current employer. Furthermore, the data shows that slightly fewer workers intend to seek new jobs in the next 12 months, which is could be good news for employers focused on retaining top performers. When considered along with a comparatively low 4.7 percent unemployment rate and continued job growth in industries such as professional services, healthcare and hospitality, we believe that the overall job market remains strong."
Results from the November Spherion Employment Report:
The Spherion Employee Confidence Index dropped to its lowest level this year, decreasing 3.5 points to 52.9 in November. The Index, which measures workers' confidence in their personal employment situation and optimism in the macroeconomic environment, reveals that more workers were apprehensive about the economy, job market and the future of their current employers.
Details of the Index:
Macroeconomic Confidence:
- 12 percent of U.S. adult workers believe the economy is getting stronger, compared to 17 percent in the previous month.
- The percentage of U.S. adult workers who believe that more jobs are available decreased by four percentage points to 20 percent in November.
Personal Confidence:
- 61 percent of U.S. adult workers feel confident in the future of their current employer, a decrease of four percentage points from 65 percent in October.
- The percentage of U.S. adult workers confident in their own ability to find a new job fell two percentage points from last month to 56 percent in November.
Job Security: More Workers Believe it is Unlikely they will Lose Their Job
- 79 percent of U.S. workers believe that it is unlikely that they will lose their jobs in the next 12 months, an increase of two percentage points from October.
Job Transition: Fewer Workers Likely to Look for a New Job
- 32 percent of workers are likely to look for a new job in the next 12 months, compared to 34 percent in the previous month.
