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Employee Confidence Drops

September 02 2011

Employee confidence dropped 6.8 points in August, its third monthly decline, according to survey results from SFN Group Inc. (NYSE: SFN), released today. The employee confidence index stands at 41.0, its lowest since February 2009. The index, which measures workers’ confidence in their personal employment situation and optimism in the economic environment, revealed continued deterioration in workers’ confidence in the strength of the economy and the future of their current employers.  

“There is little doubt that recent plunges in the stock market and slow employment growth in the first half of 2011 have fueled fears of another possible recession in the minds of U.S. workers,” said Roy Krause, president and CEO of SFN Group Inc. “However, several signs counteract this fear based on historical trends. The temporary help sector, which is typically a leading indicator coming in and out of a recession, is still growing. And, the unemployment rate for professional talent remains below 4.5 percent. In fact, our clients continue to look for skilled technology professionals, accountants and engineers. Although a double-dip recession cannot be completely ruled out, I believe that this recovery will be cautious and slow-moving, and may hit several soft patches along the way.”

The online survey was conducted by Harris Interactive on behalf of the SFN Group.  It surveyed 1,179 employed U.S. adults between Aug. 10 and 12, 2011.

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