worker confidence rebounds following three consecutive months of decline
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back to overviewWorker Confidence Rebounds Following Three Consecutive Months of Decline
NEW YORK, 10.07.11 – The Randstad Employee Confidence Index edged up 3.8 points in September following three consecutive months of decline. The Index, which measures workers’ confidence in their personal employment situation and optimism in the economic environment, indicates an increase in overall confidence among workers, with notable gains in confidence in the strength of the economy and in the future of their current employer. Furthermore, more workers indicated that they were unlikely to lose their jobs, while fewer workers revealed the likelihood to look for new jobs in the next 12 months.
“We're encouraged to see worker confidence begin to bounce back after a few months of decline recently,” says Joanie Ruge, senior vice president and chief employment analyst of Randstad US. “Although tempered hiring volumes this summer overall remain concerning, we are pleased to see that hiring was better than anticipated in September. In fact, we see a few bright spots within the economy, as well as in our own business. For example, the Institute for Supply Management manufacturing index ticked up a bit in September, surpassing economist’s expectations. In addition, within our own business, we have more than 1,000 healthcare positions available, over 2,500 openings within the technology sector, 1,600 available administrative jobs, nearly 1,500 manufacturing and logistics open positions, and over 1,500 opportunities for engineering workers. Although the economic recovery won’t happen overnight, it is important to note that it’s still growing.”
The online survey was conducted by Harris Interactive on behalf of Randstad. It surveyed 1,251 employed U.S. adults, aged 18 and over from September 12-14, 2011.
Confidence in Overall Situation
The Randstad Employee Confidence Index edged up 3.8 points in September after three consecutive months of decline. The Index, which measures workers’ confidence in their personal employment situation and optimism in the economic environment, indicates an increase in overall confidence among workers, with notable gains in confidence in the strength of the economy and in the future of their current employer. Further, more workers expressed confidence in their job security, while fewer workers revealed that they are likely to make a job transition in the next 12 months.
Confidence in Macroeconomic Environment
- 53% of U.S. workers believe the economy has weakened, down 10 percentage points from August.
- The number of workers who believe there are fewer jobs available declined in September. Specifically, 63% of workers believe there are fewer jobs available in September versus 67% in the prior month.
Confidence in Personal Employment Situation
- Six out of 10 workers are confident in the future of their current employer. This is an increase of 6 percentage points from the previous month.
- 35% of workers are confident in their ability to find a new job, remaining unchanged from August.
Job Security
- 69% of workers believe that it is unlikely they will lose their jobs in the next 12 months. This is an increase of three percentage points from the previous month.
Job Transition
- 32% of workers are likely to look for a new job in the next 12 months, a decrease of three percentage points from August.
Methodology
The survey was conducted online in the U.S. by Harris Interactive on behalf of Randstad US from September 12-14, 2011 among 1,251 employed adults ages 18 and older (August 2011, n = 1,179). This survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. Results were weighted as needed for age, sex, race/ethnicity, income, education, and region. Propensity score weighting was also used to adjust for respondents’ propensity to be online.
All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, Harris Interactive avoids the words “margin of error” as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.
Respondents for this survey were selected from among those who have agreed to participate in Harris Interactive surveys. The data have been weighted to reflect the composition of the U.S. adult population. Because the sample is based on those who agreed to be invited to participate in the Harris Interactive online research panel, no estimates of theoretical sampling error can be calculated.
About the Report
As part of the Randstad Emerging Workforce Series of employment surveys, the monthly Randstad Employment Report provides a snapshot of the latest workforce trends across the country and is issued in conjunction with state and national labor market releases. Three key indices are measured: the Randstad Job Security Index, which captures how likely respondents think it is that they will lose their job or that their job will be eliminated in the next 12 months; the Randstad Job Transition Index, which captures how likely respondents are to look for a new job in the next 12 months and the Employee Confidence Index that measures employees’ overall confidence in the economy, their employer and their ability to find other employment.
The Employee Confidence Index is calculated from the results of four components that reflect these aspects of employee confidence. For each component item a ‘score’ is calculated by taking the difference of the percentage of positive responses and the percentage of negative responses. These scores are averaged to indicate an overall scale of employee confidence, with each score ranking from 0 (no confidence) to 100 (complete confidence). A reading above 50 indicates positive confidence.
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