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Worker Confidence Up Despite Dip in Expected Hiring

The Hudson Employment Index (SM) rose one point to 102.9 in August, a moderate increase albeit the most substantial since May. Nominal improvements in workers’ perceptions of their finances and job satisfaction contributed to the increase, yet were tempered by a decrease in hiring expectations. The latest reading is nearly five points above last August, when the Index registered 98.2.

Specifically, the number of workers happy with their job rose to 75 percent in August, up one point from July.  The current findings are substantially higher than one year ago when only 72 percent of employees were happy at work. Also, only 15 percent of the work force reported their companies would be reducing headcount this month, down one point from July and down three points from last year at this time. While 21 percent of workers were worried about job loss last August, only 19 percent reported that to be a concern this year.

Personal finance situations improved slightly as well. After five consecutive months of negative movement or insignificant change, the number of workers who reported their finances were improving rose two points to 40 percent in August. “This year has not been easy on employees’ wallets,” said Steve Wolfe, senior vice president, Hudson. “However, workers were given a reprieve reprieve (rĭprēv`): in law, see pardon.  in August, when the Fed took a break from raising interest rates and energy prices eased.”

Conversely, the number of workers expecting their employer to hire in the coming months fell from 32 percent in July to 31 percent this August. This still fares better than last August, when only 30 percent expected their employers to increase headcount.

“Even a small decrease in expected hiring can be distressing initially.  However, workers seem to be seeing positive signs in other areas,” added Wolfe. “Most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent"
above all, most especially
, we are finding fewer concerns relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 job security hinting that although hiring may be experiencing a slow down, employees do not yet think the market has taken a significant turn for the worse.”

In addition to the tempered rise in overall worker confidence, other demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data.  also reported improved sentiment. Workers in the manufacturing and accounting & finances sectors, those between 50-64 years old, and employees in Texas all reported dramatic improvements in confidence.  Managers also were more optimistic op·ti·mist  
1. One who usually expects a favorable outcome.

2. A believer in philosophical optimism.

 in August.

Hudson, one of the world’s leading professional staffing, outsourcing and talent management solutions providers, publishes the Hudson Employment Index, a monthly measure of U.S. worker confidence in the employment market.  Results are not seasonally adjusted Seasonally adjusted

Mathematically adjusted by moderating a macroeconomic indicator (e.g., oil prices/imports) so that relative comparisons can be drawn from month to month all year.
.  Next month’s Hudson Employment Index will be released on October 4.  

The Hudson Employment Index

The Hudson Employment Index ( is based on monthly telephone surveys with approximately 9,000 U.S. workers. The Index tracks aggregate employment trends regarding career opportunities, hiring intentions, job satisfaction and retention. The data is compiled each month by Rasmussen Reports Rasmussen Reports is an American public opinion polling firm. Founded by pollster Scott Rasmussen, the company updates its President's job approval rating daily and publishes at least one poll a month for each United States Senate and state governor race on its website. , LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
, an independent research firm ( 

Survey results are segmented by 11 cities: Atlanta, Boston, Chicago, Dallas, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Minneapolis-St. Paul, New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
, Philadelphia, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Tampa, and Washington, D.C.  The Index surveys five occupational sectors: accounting and finance, health care, information technology, manufacturing and legal. The Hudson Employment Index also measures employee confidence by age, gender, race and compensation.

Data reported in this release is based on a national telephone survey of 9,244 working Americans during the month of August. The margin of sampling error for a survey based on this number of interviews is approximately +/-1 percent with a 95 percent level of confidence. The data is not seasonally adjusted.  It will be reviewed at year-end to determine if seasonal adjustments are appropriate.  The Hudson Employment Index is a service mark owned by Hudson Highland Group, Inc.

The national telephone survey of 9,244 working Americans was conducted by Rasmussen Reports in August, 2006. The margin of sampling error for the survey is +/- 1 percentage point with a 95% level of confidence.

Rasmussen Reports is an electronic publishing An umbrella term for non-paper publishing, which includes publishing online or on media such as CDs and DVDs.  firm specializing in the collection, publication, and distribution of public opinion polling information.

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Date:Aug 30, 2006
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