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Worker confidence sinks further

January 02 2008
Worker confidence tumbled in December, according to the Hudson employment index, a monthly survey of worker confidence by Hudson (NASD: HHGP). Worker confidence dropped 4.6 points to an index level of 87.3 in December, 15 points below its reading a year ago.

Fewer workers reported their personal finances were improving in December, 33% compared with 34% in November. The number of workers who said their employers were in hiring mode fell to 23% in December from 25% in the prior month.

In addition, 20% worried about job security in December compared with 19% in November.

"Amid increasing talks of recession, workers' outlook can be significantly shaped by what they see and hear in the news," said Robert Morgan, co-president of recruitment and talent management at Hudson. "In actuality, the situation may not be as bad as some believe. For instance, the Bureau of Labor Statistics continues to report stable job growth on a monthly basis, indicative of the fact that there are still employment opportunities out there."

The index is based on monthly telephone surveys with approximately 9,000 U.S. workers.

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