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Spherion - Worker confidence slips

March 10 2008

Worker confidence edged down in February, according to Spherion Corp.'s (NYSE: SFN) employee confidence index. The gauge fell 0.2 of a point to 48.4 in February from 48.6 in January. Readings above 50 indicate a positive confidence level.

Only 6% of workers said they believe the economy is getting better, according to the index's survey and 13% said they believe more jobs are available. Both those measures are down three percentage points. However, more workers, 78%, said in February their jobs are secure, an increase of one percentage point from January. In addition, 51% of workers were confident in their ability to find a new job, up one percentage point from January.

"Clearly, there are lingering concerns about the economy and job market that have impacted the overall confidence index," said President and CEO Roy Krause. "However, the bright spot out of all this is that workers have a much more positive outlook on their own employment prospects."

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