Worker confidence rebounded in the fourth quarter after nine months of decline, reaching the highest level in its nearly 10-year survey history, according to the US Worker Confidence Index released by staffing provider Yoh, a division of Day & Zimmermann, and HRO Today magazine.

The index rose 8.1 points to 114.9 in the fourth quarter, surpassing the previous high of 114.4 recorded in the fourth quarter of 2022.

“The talent market across the US continues to defy expectations with positive jobs reports from the Department of Labor, and the worker confidence index, after months where employees remained uneasy about their careers, finally bounced back and reflected the positivity seen across other economic evaluators,” Yoh president Emmett McGrath said in a press release. “That’s good news for employees and employers alike.”

In the fourth quarter, the perceived likelihood of a raise, perceived likelihood of a promotion and trust in company leadership all rose, according to Yoh.

The perceived likelihood of a raise witnessed the biggest quarter-over-quarter gain, reaching an index level of 131.9 in the fourth quarter from 116.8 in the third. Trust in company leadership also grew to a reading of 110 in the fourth quarter from 103.3 in the third.

Conversely, perceived job security was the sole index to decline in the fourth quarter, dropping to 98.9 from 100.4.

Overall, 12.5% of total workers feared involuntary job loss, marking the third consecutive quarter of decline.

Workers between the ages of 25 and 34 were found to be the most confident in a potential promotion, with 43.5% anticipating it within the next 12 months, while workers between the ages of 18 and 24 were the least secure in their jobs, with one-quarter fearing job loss.

Yoh’s Worker Confidence Index is based on a survey of workers and gauges full-time workers’ perceptions of four aspects of worker confidence: job security, likelihood of a promotion, likelihood of a raise and overall trust in company leadership.