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Worker confidence improves

October 31 2007

A monthly survey of worker confidence by Hudson, part of the Hudson Highland Group Inc. (NASD: HHGP), rose 3.7 points to 100.8 in October, ending a two-month decline. Still, the index remains lower than October 2006's reading of 101.4.

The percent of workers who rated their finances favorably climbed to 47% in October from 44% in September. The percentage expecting layoffs at their companies slipped to 15% from 16%.

"The stability that resulted from the move by the Federal Reserve in the wake of the sub-prime mortgage crisis appears to have resonated in the labor market," said Robert Morgan, president of Talent Solutions, Hudson. "Nevertheless, employers remain hesitant when it comes to hiring, as there is still uncertainty regarding the slowing economy."

The index's survey is based on telephone interviews with 9,000 U.S. workers.

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