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Worker confidence rises

June 09 2008

Worker confidence rose for the first time in nine months in May, according to Spherion Corp.'s employee confidence index. The gauge increased 0.7 points to 46.9.

The index's survey found that 75% said in May they believe it is unlikely they will lose their jobs in the next 12 months, that's a decline of three percentage points from the previous month.

In addition, 64% said they are confident in the future of their employers, while 51% are confident in their ability to find a new job. Both indicators are down one percentage point from April.

"While some industries, such as manufacturing, have been performing better than expected, the simmering fears about job loss persist," said William Grubbs, executive VP and COO at Spherion. "Even if they are employed and feel that their employer is doing well, many people know someone who has been laid off or is struggling and that insecurity creates a ripple effect, however subtle."

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