Industry News | June 19, 2008

NY Employee Confidence Declines

The New York Employee Confidence Index decreased 1.4 points to 45.9 in May, according to the latest Spherion Employment Report. The monthly survey of New York workers, conducted by Harris Interactive on behalf of Spherion Corporation, shows that more workers are concerned about the amount of jobs available and lack confidence in the future of their current employer.

Results from the New York Employment Report:

-- Continuing the trend seen in April, more workers are concerned about the number of jobs available, with 58 percent reporting they believe fewer jobs exist, an increase of seven percentage points.

-- Although more workers (11 percent) believe the economy is getting stronger, a 9 percent increase from April, two-thirds of workers (66 percent) still feel that the economy is weakening.

-- Fifty-six percent of workers are confident in the future of their current employer, a 16-percentage-point decline from April.

"Although employees' overall confidence declined this month, the level is much higher than what we saw just two months ago. This shows that workers are not panicking about the current situation, but are leery about the job market due to economic concerns nationally," says Linda Perneau, vice president of Spherion Staffing Services. "While it's true that we did lose some jobs this past month in manufacturing and financial services, other industries such as education, health care, and hospitality are still strong."

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