Hudson finds worker confidence at record low
December 05 2007
A monthly survey of worker confidence by Hudson
, part of the Hudson Highland Group Inc. (NASD: HHGP), fell to its lowest level since it began in January 2004 amid worries about hiring and personal finance. The index dropped 8.9 points in November to a low of 91.9. It registered 105.3 a year ago.
The number of workers who said their companies would be hiring fell three points to 25% in November, the fewest workers expecting job growth in the index's history, according to Hudson. In addition, 17% expect their employers to cut staff, the highest reading in two years.
"Simply put, U.S. workers are worried that job growth is going to slow significantly in the coming months," said Robert Morgan, co-president of recruitment and talent management at Hudson. "They remain concerned about finance-related issues, but that apprehension has boiled over so they are now seeing a more widespread problem."
The index is based on a survey of approximately 9,000 U.S. workers.