Bean Counters Not Confident About Job Prospects
You know you're in trouble when the guys who run the numbers and keep the books are not confident about U.S. job prospects. A recent Accounting & Finance Employment Report conducted online by Harris Interactive, shows that although some workers gained confidence in the strength of the economy, more people believe there are fewer jobs available.
The Accounting and Finance Employee Confidence Index, a measure of overall confidence among U.S. accounting and finance workers, dropped 4.0 points to 52.1 in the first quarter of 2011. Other findings include:
- Only one-third (29 percent) of accounting and finance workers are confident in the strength of the economy.
- More than half (55 percent) of accounting and finance workers believe there are fewer jobs available, up four percentage points from the previous quarter.
- Just sixty-five percent of accounting and finance workers are confident in the future of their current employer, which dropped from 71 percent reported in the fourth quarter of 2010.
- Job security is decreasing. Fewer workers believe it is not likely they will lose their jobs. Specifically, 69 percent believe so versus 78 percent last quarter.
- Thirty-six percent of accounting and finance workers say they are likely to make a job transition in the next 12 months, decreasing eight percentage points from the previous quarter. When workers are not confident there will be other jobs to go to, they are less likely to make a switch.
Still, there is hope, according to Brendan Courtney, president of The Mergis Group. "The financial landscape and job market remain relatively stable, despite the drop seen in this quarter's Accounting and Finance Confidence Index," he said. "While the Index took a dip over the past quarter, we direct our attention to the year-over-year trend which shows an upward movement of 1.5 points. This figure tends to be more stable and accounts for macroeconomic adjustments."
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