Confidence among U.S. workers sinks in November, Spherion survey finds

FORT LAUDERDALE — The number of U.S. workers expressing confidence in the economy and in their personal employment situation continued its decline in November, according to Spherion Corp.’s monthly survey of workers.

The Spherion Employee Confidence Index, a monthly gauge of overall worker confidence, fell 3.5 points to 52.9 in November, its lowest level this year. The survey, conducted by Harris Interactive on behalf of Spherion, reveals that fewer workers believe there are more jobs available and that the economy is getting stronger.

On the other hand, more than three-quarters of workers believe it is unlikely that they will lose their job in the next 12 months.

According to the survey, the percentage of workers who expressed confidence in their own job security increased two percentage points from 77 percent in October to 79 percent in November, while the percentage of workers who felt confident in the future of their current employer decreased four percentage points from October to 61 percent.

Thirty-two percent reported that it was likely that they would seek new jobs in the next 12 months, a decrease of two percentage points from October.

"It appears that the volatile stock market, credit situation, housing slowdown and continued anxiety over fuel prices may be fueling apprehension among workers," Spherion CEO Roy Krause said. "Though this month's index decreased, data … indicate a clear majority of workers remain
optimistic and confident about their own job security.”

Details of the Index:

Macroeconomic Confidence:

— 12 percent of U.S. adult workers believe the economy is getting stronger, compared to 17 percent in the previous month.

— The percentage of U.S. adult workers who believe that more jobs are available decreased by four percentage points to 20 percent in November.

Personal Confidence:

— 61 percent of U.S. adult workers feel confident in the future of their current employer, a decrease of four percentage points from 65 percent in October.

— The percentage of U.S. adult workers confident in their own ability to find a new job fell two percentage points from last month to 56 percent in November.

Job Security:

— 79 percent of U.S. workers believe that it is unlikely that they will lose their jobs in the next 12 months, an increase of two         percentage points from October.

— 32 percent of workers are likely to look for a new job in the next 12 months, compared to 34 percent in the previous month.