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Spherion index - Worker confidence dips

August 01 2008

Worker confidence slipped in July, according to the Spherion Corp. (NYSE: SFN) employee confidence index. The measures fell 0.9 of a point to 45.2, its lowest level since tracking began in June 2004.

Five percent of U.S. workers believe the economy is getting stronger, down two percentage points from June, according to the index's survey. And fewer workers, 10%, believe there are more jobs available than in June, which had a reading of 12%.

However more workers, 66%, felt confident in the future of their employers, up three percentage points from June. In addition, 67% of workers say it is unlikely they will lose their jobs in the next 12 months, a percentage unchanged from June.

"Given the current state of the economy, we are encouraged by the high number of workers feeling secure in their jobs and the rise in the percentage of workers who are confident in the future of their employers," said Spherion President and CEO Roy Krause. "This level of confidence is not unlike what we have seen in previous downturns and is indicative of how workers feel about their own abilities and their personal situations despite the instability of the economic environment around them."

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