Economy, not Jobs, Instills Confidence in U.S. Engineers
The quarterly Randstad Engineering Employee Confidence Index, which measures confidence levels of American engineers, has shown modest improvement over the prior three quarters, increasing by 3.4 percentage points to 57.8. The overall economy has garnered improved confidence within the engineering industry as U.S. engineers are optimistic about their ability to find new jobs. However, engineering professionals are less confident that more jobs are available compared to 2012.
“Modest recoveries within industry sectors in which engineers play a pivotal role, including manufacturing, are helping to revitalize job growth for the profession and improving confidence levels among engineering workers,” Richard Zambacca, president of Randstad Engineering, said. “In fact, our Index this quarter reflects growing confidence among engineers in the overall strength of the economy, but also the future of their current employer and ability to find a new job. A persistent area of concern for engineers is in the availability of jobs, which declined further in our index this quarter. However, as is the case with many other fields, certain positions within the industry are estimated to grow aggressively in the long and short-term. Industrial engineers and electrical/hardware engineers have demonstrated steady growth in the past year. Additionally, the trade group Institute of Electrical and Electronics Engineers indicates that one of the fastest growing areas will be in the service industry, such as consulting firms that provide engineering expertise.”
The Index found that 34 percent of engineering professionals feel that the economy is becoming stronger, up from 29 percent in Q3 2012. But only 23 percent think that more jobs are available, down from 27 percent in Q3 2012. Over 40 percent of engineering works believe that fewer jobs are available this quarter.