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Spherion worker confidence index slips

May 02 2008

Worker confidence fell in April, according to Spherion Corp.'s (NYSE: SFN) employee confidence index. The gauge declined 0.3 of a point to 46.2 in April, a new low for the index.

Seventy-three percent of workers in April said the economy is getting weaker, and the number of workers confident in their ability to find new jobs fell one percentage point to 52%. However, 65% said they are confident in the future of their current employer, up two percentage points from March.

"This month's continued decline in confidence reflects the countrywide pessimism about the current state of the economy," said Spherion President and CEO Roy Krause. However, some sectors continue to add jobs, including information technology, Krause said. "The unemployment rate for professionals across many industries remains relatively low at approximately 2%, meaning that employers will continue to have a difficult time finding talent for open positions."

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