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Randstad US workers confidence indexes rise in first half of year

August 27, 2015

Confidence levels among US manufacturing and logistics workers rose in the first half of the year and point to an aggressive increase in hiring activity, according to Randstad. Confidence levels in the accounting and finance sector rose dramatically, and improved levels for office and administrative worker confidence suggest improved job security.

Manufacturing and logistics employee confidence

The Randstad manufacturing and logistics employee confidence index rose to 60.8 in mid-year 2015 from 55.9 at the end of 2014, This is the second consecutive wave of growth among this group, which was 53.3 one year ago.

Index values above 50 indicate a positive reading.

The percentage of workers in the sector who believe there are more jobs available rose to 37% from 28% reported at the end of last year. 

Findings indicate workers’ personal confidence levels are also rising; 63% of workers said it is unlikely they will lose their jobs involuntarily over the next 12 months, but 38% said it is likely they will look for another job.

“Many experts predicted 2015 would bring robust growth and expansion for the manufacturing sector, and so far that appears to be the case,” said Traci Fiatte, group president, Randstad US. “We’re witnessing a growing supply of natural gas in the US, which provides more affordable energy for factories and new opportunities for products and services. In fact, PricewaterhouseCoopers estimates that high shale gas recovery and low prices could add 1 million US manufacturing jobs and reduce natural gas costs by up to $11.6 billion annually through 2025.”

“While we haven’t seen an aggressive rise in hiring activity thus far in 2015, we believe it’s imminent,” Fiatte said. “Our mid-year 2015 survey indicates confidence levels among manufacturing workers continue to rise and they are becoming increasingly more confident in the economy, availability of jobs, as well as their personal employment situations.”

The index is based on an online survey of 203 manufacturing and logistics employees within the US conducted by Harris Poll on behalf of Randstad during January, March and April of 2015.

Finance/accounting worker confidence

US finance and accounting workers’ confidence index rose sharply to 67.2 in mid-year 2015, up 8.3 points from year-end 2014, according to the Randstad Professionals’ finance and accounting employee confidence index. The index remained above 50, which indicates a positive reading.

“There is no question the accounting and finance sector has improved dramatically during the first half of 2015,” said Kathryn Bolt, group president, Randstad Professionals and Tatum. “According to the Bureau of Labor Statistics, employment in financial activities rose by 17,000 in July, and overall employment has increased by 156,000 over the past 12 months. It seems finance and accounting workers are certainly taking heed of the improving market conditions, as our survey shows confidence levels continue to rise.”

Mid-year results indicate finance and accounting workers are exceptionally confident in regard to their personal employment situations. More than half, 62%, said they are confident in their ability to find a new job, whereas less than 10% said they are not confident.

Similarly, 78% said it is unlikely they will lose their jobs over the next 12 months, and 54% said it is unlikely they will voluntarily leave their jobs. Workers are also confident in their employers; 64% said they are confident in the future of their current employers, compared to only 11% who said the opposite.

Harris Poll conducted the survey within the US on behalf of Randstad Professionals in January, March and April 2015. It included 171 respondents employed in accounting and finance.

Clerical worker confidence

The Randstad US’ office and administration confidence index rose to 57.6 in mid-year 2015, up 2.9 points from year-end 2014 and the second straight wave of increased confidence among this group.

“Given the vital role office and administrative professionals play within all organizations, we believe job security will continue to remain very high for these workers,” said Traci Fiatte, group president, Randstad US. “However, it's important to note that as the business landscape continues to evolve, professionals within this sector also need to evolve and adapt at pace — these aren't the same jobs they were 30 years ago, and employers' needs and expectations have changed.”

Randstad continues to see an increased need for qualified, technologically skilled administrative professionals, and expects this demand will continue to grow, Fiatte reported.

More than one-third of employees, 35%, said they believe the economy is getting stronger, and more than 28% believe there are more jobs available.

Perhaps due to increased confidence in employment opportunities, 74% said it is unlikely they will lose their jobs over the following 12 months. Although personal confidence levels are high, more than half of employees, 52%, said it is unlikely they will look for another job over the following 12 months. Additionally, 62% said they are confident in the future of their current employer.

The index is based on an online survey within the US of 441 US office and administrative workers conducted by Harris Poll on behalf of Randstad during January, March and April of 2015.