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Index - Worker confidence lowest since 1967

March 06 2009

Spherion Corp.'s (NYSE: SFN) employee confidence index fell to a reading of 40.1 in February, its lowest level since 1967. January's reading was 42.7.

The index's survey found that only 6% of workers believe the economy is getting stronger, down from 7% in January. In addition, 79% of U.S. workers believe fewer jobs are available, up three percentage points from January.

Sixty-three percent of workers feel confident in the future of their employers, down from 67% in the previous month, according to the index's survey.

Spherion President and CEO Roy Krause said the results are not surprising given the present economic situation.

"Until the American people begin to see some stabilization in foreclosures, layoffs and other key economic indicators, it is possible that overall confidence will continue to suffer," Krause said. "That being said, with a higher regulatory environment likely heading into businesses across the country, I anticipate that the need for highly skilled lawyers and accountants will rise. In addition, as the new administration focuses on healthcare, energy, technology and education, companies will need dedicated support to fill these critical positions."

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