U.S. Workers More Confident and Ready for Change
Despite the fact that we're not adding nearly as many jobs as we should here in the United States -- a mere 36,000 last month -- more workers are confident, and believe that the economy is getting stronger. In fact, workers feel so good about their prospects that four in 10 report they are likely to make a job change in the next 12 months. That's according to the The SFN Group Employee Confidence Index, which increased 1.7 points to 52.8 in January.
The index measures workers' confidence in their personal employment situation and optimism in the economic environment. "Employees have begun 2011 with greater confidence than we have seen in nearly a year," says Roy Krause, president and CEO of SFN Group Inc. "Following recent improvements in the stock and job markets, our index reveals that workers are more secure in the economic recovery. As a result, many more workers are likely to make a job change."
Here are some of the more interesting facts coming out of the most recent employee confidence report:
- Sixty-one percent of workers are confident in the future of their current employer, an increase of one percentage point from the previous month..
- Seventy-one percent of workers believe that it is unlikely they will lose their jobs in the next 12 months.
- Four in 10 workers are likely to look for a new job in the next 12 months, representing an increase of four percentage points from the previous month.
- Men have higher levels of overall confidence than women. Specifically, the Employee Confidence Index stands at 54.9 for males and 50.3 for females.
- Men are also more inclined to make a job transition, with 44 percent indicating they probably will. Thirty-six percent of women believe job change is likely.
- Workers ages 18-34 expressed the highest levels of overall confidence among all age groups, with 34 percent believing that the economy is getting stronger.
- Workers ages 18-34 are also the most likely among all age brackets to indicate a likelihood of making a job transition in the next 12 months, with more than half (56 percent) reporting that a job change is likely.
- Workers earning $75K+ are the most confident among all income brackets.
- On the other end of the income spectrum, workers earning less than $35K are the least confident.
"We believe many employees who were hesitant to entertain the idea of a job move in recent years, may now do so as they anticipate increased job creation in the months to come," says Krause. "As we speak with employers across the country, we maintain cautious optimism that more job creation is likely to take place in 2011. However, we may continue to see project and temporary positions becoming a larger part of the work force."
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