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Worker confidence at record high in IT and healthcare, falls in engineering

October 23, 2015

The Randstad Technologies’ employee confidence index for IT workers rose to an all-time high reading of 65.1 in mid-year 2015 from 59.3 at year-end 2014. The index measures IT workers’ confidence in their personal employment situation and optimism in the economic environment.

“In mid-year 2015, IT professionals indicated the highest confidence levels we’ve ever witnessed in the decade that we’ve conducted the Randstad Technologies ECI survey,” said Bob Dickey, Randstad’s group president, technology and engineering. “Given the rapid increase in demand for technology skills to help companies assess trends and implement emerging technologies, we will likely see even higher confidence levels among IT professionals in the future.”

Dickey noted the US Bureau of Labor Statistics projects that IT employment will continue to outperform through 2022, growing 18% compared to 10.8% for total employment.

“This is the year of mobility, big data and cloud computing and these rapidly evolving fields are driving tremendous demand for IT professionals with related skills,” Dickey said.

The survey found 46% of IT workers believe the economy is getting stronger and 38% believe there are more jobs available. Additionally, 60% of IT workers are confident in their ability to find a new job.

Despite confidence in increased availability of jobs and the ability to find new jobs, more than half of IT workers, 53%, said it is unlikely they will look for a new job in the next 12 months and 67% said they are confident in the future of their current employers.

Healthcare workers’ confidence at all-time high

Healthcare workers’ confidence also reached an all-time high, according to Randstad Healthcare’s employee confidence index. The index rose to a reading of 64.8 in mid-year 2015 from 55.6 at year-end 2014. The index surpassed Randstad US’ aggregate ECI of 62.1, suggesting employees within the healthcare field are particularly confident in regards to the overall economy, as well as their personal employment prospects.

The report found 29% of healthcare workers believe the economy is getting stronger, and 36% believe there are more jobs available. Although 66% of healthcare workers say they are confident in their ability to find a new job, only 32% say they are likely to look for new employment opportunities in the next 12 months.

“The fact that healthcare workers indicated the highest confidence levels we’ve ever recorded is a sign the job market for these professionals is providing more opportunities, and the sector is experiencing the rapid growth many economists expected,” said Abigail Tremble, president of Randstad Healthcare. “We entered 2015 with historically lower-than-average unemployment rates for many healthcare occupations, so it’s no surprise we have already seen increased hiring activity for many key positions.”

Tremble noted healthcare job postings increased 27% year-over-year from June 2014 to June 2015, according to Indeed.com, and the Bureau of Labor Statistics indicates employment in healthcare rose by an average of 38,000 new jobs per month over the past 12 months. The number of uninsured Americans also fell to 11.9% in the first quarter of 2015, the lowest percentage since Gallup started tracking the figure in 2008.

“Additionally, as baby boomers age, the Labor Department projects that by 2022, healthcare and social assistance will absorb nearly 20% of consumer spending, double the share of manufactured goods,” Tremble said. “As a result, the profession is expected to employ more than 21 million workers, 5 million more than we have today.”

US engineering workers’ confidence falls

The Randstad engineering employee confidence index for the US fell to a reading of 56.9 in mid-year 2015, down six points from 62.9 at the end of 2014. The index measures engineering workers’ confidence in their personal employment situation and optimism in the economic environment.

“The results of our mid-year engineering employee confidence Index are a mixed bag,” said Richard Zambacca, president of Randstad Engineering. “While engineers’ overall confidence levels are dipping, their feelings about job security and the future of their current employers remain quite strong. These divergent sentiments reflect the landscape of the engineering sector thus far in 2015, which shows some engineering skills are in very high demand and others in decline based on macroeconomic trends and emerging manufacturing technologies.”

Less than one-third of engineering workers surveyed, 27%, believed more jobs available in mid-year 2015, while 57% indicated they are confident in their ability to find a new job. However, in regards to personal job security, the engineering workforce remains very confident; 78% of engineering professionals reported it is unlikely they will lose their jobs in the next 12 months while only 8% said the opposite.

The survey also found only 30% of engineering professionals believe the economy is getting stronger, while 44% said it is getting weaker.

The reports are based on an online survey conducted in the US by Harris Interactive, on behalf of Randstad, that included 170 adult IT workers, 113 adults employed in engineering and 243 healthcare employees. The survey was conducted in January, March, April and June of 2015.