Spherion U.S. Employment Report: Worker Confidence Virtually Unchanged in September

The Spherion Employee Confidence Index remained virtually unchanged in September, decreasing 0.5 points to 49.4. The Index, which measures workers' confidence in their personal employment situation and optimism in the economic environment, reveals that although a higher percentage of U.S. workers believe the economy is getting stronger, slightly fewer workers are optimistic in their ability to find a new job.

"The recent variability seen in our Index over the last few months indicates that it will take a longer period of time to see consistent month-over-month increases in overall confidence," said Roy Krause, President and CEO of Spherion Corporation. "Economists are forecasting job creation to start happening in the beginning of 2010, although many predictions point to the unemployment rate swelling, as those that have dropped out of the workforce entirely start job searching again at signs of a turnaround. There is no doubt that every sector of the economy has been affected by this economic downturn. Businesses, as well as consumers, are holding their breath in hopes that the worst of this is behind us -- and I feel confident that we are getting closer to that point."

A Look Inside the Report:

Confidence in Overall Situation:

The Spherion Employee Confidence Index remained virtually unchanged in September, decreasing 0.5 points to 49.4 in September. The Index, which measures workers' confidence in their personal employment situation and optimism in the economic environment, reveals that although a higher percentage of U.S. workers are confident in the strength of the economy, slightly fewer workers are optimistic in their ability to find a new job.

Confidence in Macroeconomic Environment:

* Twenty-seven percent of U.S. workers believe the economy is getting stronger, increasing three percentage points from August.
* Sixty-nine percent of workers surveyed believe there are fewer jobs available, showing no change from the previous month.

Confidence in Personal Employment Situation:

* The percentage of workers reporting confidence in the future of their current employers decreased by one percentage point to 63 percent in September.
* Fewer workers are confident in their ability to find a new job. Specifically, 38 percent compared to 40 percent registered in August.

Job Security:

* Seventeen percent of workers say it is likely they will lose their jobs in the next year, increasing two percentage points from last month's reading.

Job Transition:

* Thirty-five percent of workers are likely to look for a new job in the next twelve months, representing no change from August.

Confidence by Gender:

* In September, more men and women believe the economy is getting stronger. Specifically, 29 percent of men and 24 percent of female workers cited this (compared to 27 percent and 21 percent reported in August).
* Fewer males and females are confident in their ability to find a new job in September. Specifically, 41 percent of males are confident (compared to 43 percent in August) and 35 percent of females are confident (compared to 38 percent the previous month).
* According to the latest results, nearly 40 percent (39 percent) of men are likely to look for a new position, and 31 percent of females are likely to job search in the next 12 months.

Confidence by Age:

* Forty-one percent of workers ages 45-54 are confident in their ability to find a new job. This is the highest amongst all age groups and a four percentage point increase from August.
* Sixty-nine percent of workers 55 years and older are confident in the future of their employers -- the highest across all age groups.
* Fifty-two percent of workers between the ages of 18-34 report that they are likely to look for a new job in the next year. This is the highest reading for all age brackets.

Confidence by Income:

* When asked if they are likely to lose their job in the next 12 months, more workers across all earnings brackets responded that they are likely in September versus August.
* Nearly half (45 percent) of workers earning less than $35K are likely to look for a new job in the next year. This is the highest reading across all income cohorts for the second consecutive month.

View September Full Results and ECI Index Archive

About the Spherion Employment Report

Methodology

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About Spherion

Spherion Corporation (NYSE: SFN) is a leading recruiting and staffing company that provides integrated solutions and breakout specialties to meet the evolving needs of companies and job candidates. As an industry pioneer for more than 60 years, Spherion has sourced, screened and placed millions of individuals in temporary, temp-to-hire and full-time jobs.

With approximately 600 locations in the United States and Canada, Spherion delivers innovative workforce solutions that improve business performance. Spherion provides its services to approximately 10,000 customers, from Fortune 500 companies to a wide range of small and mid-size organizations. Employing more than 215,000 people annually through its network, Spherion is one of North America's largest employers. Spherion operates under the following brands: Spherion Staffing Services Group for administrative, clerical and light industrial workers; Technisource for technology professionals and solutions; The Mergis Group for accounting and finance and other professional positions; Todays Office Professionals for specialty administrative personnel; and SourceRight Solutions for recruitment process outsourcing.