Employee and job seeker confidence is on the rise across three key areas — job security, financial status and career advancement — according to the third-quarter Vaco Talent Pulse Report released Aug. 15 by global staffing firm Vaco.

Nearly half, 45%, of job seekers reported being extremely confident in their ability to get and hold a job right now, known as “job security.” This is an increase from 35% in the second quarter and 39% in the third quarter of 2023. The study noted this is the highest confidence level in job security since the report’s inception in the third quarter of 2023.

“Compared to a year ago, confidence levels among job seekers and employees have shown improvement or stability across three areas of focus, including job security, financial status and career advancement,” Vaco President Kevin Witt said in a press release. “It is notable given elevated unemployment rates in both the US and in Canada.”

The findings come as separate research by the New York Federal Reserve found the proportion of job seekers is at its highest level since 2014.

Vaco also found that 26% of respondents reported a lack of confidence in their ability to get and hold a job right now, the lowest number since the company began its Talent Pulse Report in the third quarter of 2023.

And when it comes to financial outlook, 44% of workers are extremely confident in their ability to improve their situation in the next six months, while 25% remain unsure about securing a raise or improving their financial situation.

Optimism about career advancement is also growing, with 47% of workers expressing extreme confidence in their ability to advance over the next year, up 2% from the second quarter and year over year.

However, the percentage of those somewhat confident dropped to 28%, while 25% reported lacking confidence.

The survey also found that more workers are open to contract work, with 53% planning to or have already accepted a contract role in 2024, while 39% said they would only consider permanent roles.

“The data underscores a transition towards a workforce that is not only more adaptable but also more optimistic, navigating economic fluctuations with grit and agility,” Witt said. “Moreover, there’s a growing openness to contract work that highlights a shift in the labor market as companies adopt more strategic, creative and flexible hiring practices.”

The poll includes responses from 10,156 professionals across the US and Canada working in engineering, technology, accounting, finance, human resources and operations. It was conducted on Vaco’s LinkedIn company profile on June 15, June 21 and June 29.