SFN Group U.S. Employment Report: Worker Confidence Drops to Lowest Level Seen in Nearly Two Years
FORT LAUDERDALE, Fla., July 8, 2011 /PRNewswire/ -- The SFN Group Employee Confidence Index decreased 5.8 points to 48.1 in June, the lowest level recorded in nearly two years. The Index, which measures workers' confidence in their personal employment situation and optimism in the economic environment, reveals widespread dips in confidence and optimism among all measurable components of this survey. Namely, fewer workers believe the economy is getting stronger and more workers have lost confidence in the future of their current employer, as well as in their ability to find a new job.
"Recent stumbles in the economic recovery, such as slower job growth this quarter and increasing unemployment claims, have clearly shaken workers' confidence," says Roy Krause, President and CEO of SFN Group, Inc. "With the largest monthly decrease in our Index to date, workers appear to be very apprehensive about their own personal employment situations and the future of their current employer. However, it is important to remember that periods of slower growth are to be expected due to the depth of the recession. A recovery won't happen overnight and we anticipate workers' confidence to become more stable once we begin to see more consistency in economic indicators."
The online survey was conducted by Harris Interactive on behalf of the SFN Group. It surveyed 1,434 employed U.S. adults, aged 18 and over between June 14 and 16, 2011.
A Look Inside the Report:
Confidence in Overall Situation:
The SFN Group Employee Confidence Index decreased 5.8 points to 48.1 in June, the lowest level recorded in nearly two years. The Index, which measures workers' confidence in their personal employment situation and optimism in the economic environment, reveals widespread dips in confidence and optimism among all measurable components of this survey. Namely, fewer workers believe the economy is getting stronger and more workers have lost confidence in the future of their current employer, as well as in their ability to find a new job.
Confidence in Macroeconomic Environment:
- Fewer U.S. workers believe the economy has strengthened, with two in 10 workers expressing confidence in June as compared to 28 percent in May.
- Fifty-eight percent of workers believe there are fewer jobs available, increasing seven percentage points from last month.
Confidence in Personal Employment Situation:
- Fifty-seven percent of workers are confident in the future of their current employer, decreasing six percentage points from the previous month.
- Four in 10 workers are confident in their ability to find a new job, down six percentage points from May.
Job Security:
- Slightly more than two-thirds (68 percent) of workers believe that it is unlikely they will lose their jobs in the next 12 months. This is a decrease of four percentage points from the previous month.
Job Transition:
- Fewer workers are likely to look for a new job in the next 12 months. In June, 35 percent of workers indicated the likelihood to make a job transition versus 39 percent in May.
Full Results & ECI Index Archive
About the SFN Group Employment Report
Methodology
This survey was conducted online within the United States by Harris Interactive on behalf of SFN Group from June 14-16, 2011 among 1,434 employed adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please click here.
About SFN Group, Inc.
SFN Group is a strategic workforce solutions company that provides professional services and general staffing to help businesses more effectively source, deploy and manage people and the work they do. As an industry pioneer, SFN Group has sourced, screened and placed millions of individuals in temporary, temp-to-hire and full-time jobs for more than 65 years.
With approximately 560 locations in the United States and Canada, SFN delivers strategic workforce solutions that improve business performance. From outsourcing to technology to professional services to staffing, SFN delivers the best combination of people, performance, and service to improve the way work gets done. It provides its services to approximately 8,000 customers, from Fortune 500 companies to a wide range of small and mid-size organizations. The company employs more than 170,000 people annually through its network and is one of North America's largest employers. SFN provides its solutions through a family of specialized businesses: Technisource, Tatum, The Mergis Group, Todays Office Professionals, SourceRight Solutions and Spherion Staffing Services.
To learn more, visit www.sfngroup.com.
SOURCE SFN Group, Inc.
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