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Spherion worker confidence index hits low

January 09 2009

Spherion Corp.'s (NYSE: SFN) employee confidence index hit a new low in December, falling to a reading of 40.4 from a reading of 42.0 in November.

The index's survey found that 33% of U.S. workers planned to look for a new job in the next year compared with 35% in November. It also found that 75% of workers believe the economy is getting weaker compared with 73% in the previous month.

In addition, 78% of workers in December believed there are fewer jobs available, up four percentage points from the previous month.

"The depth of the economic situation became much clearer in December as major unemployment, higher jobless claims and declining consumer confidence made headlines," said Spherion CEO Roy Krause. "As a result of the decreases seen in consumer and corporate spending, many employers have been forced to make payroll cuts going into 2009, leading to an understandable drop in employee confidence this month."

Still, Krause said Spherion continues to hear from employers that need qualified talent and, while not in the same abundance as in the past, opportunities still exist.

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