National Employee Confidence Index Accelerates ahead of Jobs Report
Following a consecutive three-month downturn, Randstad’s Employee Confidence Index has increased by 1.1 points, climbing to 52.2 to reflect continued positive confidence (threshold of 50). The number is 4.4 points higher than the comparable period last year and show that, despite sluggish Q2 employment growth, employees remain fairly optimistic about their employment situation.
“Similarly to the U.S. Consumer Confidence Index rising for the first time in months, our index also ticked up a bit,” Joanie Ruge, SVP & chief employment analyst for Randstad U.S., said “Our own report suggests that workers believe in their abilities to not only find a new job if they had to, but nearly 40 percent are likely to do so. While many employers remain cautious about making full-time hires, temporary or contract hiring, is continuing to be of interest. In fact, many employers who remain reluctant to add permanent staff are re-evaluating their workforce to determine the right mix of talent moving forward. Even though economists still expect U.S. growth to occur, many are pointing towards sustainability at this point. All eyes are certainly on tomorrow’s jobs report.”
The report further found that fewer than 25 percent of employees are optimistic in an improving economy while the percentages of those who foresee either a stagnant economy (38 percent) or a worsening one (39 percent) are neck and neck. Confidence in job security in July remained strong as it increased by 3 points up to 74 percent. Employees are also showing positive confidence in the future of their employers with 59 percent optimistic about their prospects.