Hudson Employment Index Sinks to Record Low
December 05 2007 - 6:00AM
Marketwired
NEW YORK, NY fell 8.9 points in November to a record low of
91.9. Growing concerns about hiring and signs of personal financial
strain triggered the decline. In stark contrast, the Index
registered 105.3 one year ago, more than 13 points above the
current reading.
Hudson (NASDAQ: HHGP), a leading provider of permanent
recruitment, contract professionals and talent management services
worldwide, publishes the Hudson Employment Index, a monthly measure
of U.S. worker confidence in the employment market.
The number of workers anticipating hiring at their companies
fell three points to 25 percent in November. This marks the fewest
workers to expect job growth in the history of the Hudson
Employment Index. There was also a two-point jump to 17 percent
among people expecting their employer to cut staff, the highest
level for this response in nearly two years.
"Simply put, U.S. workers are worried that job growth is going
to slow significantly in the coming months," said Robert Morgan,
co-president of Recruitment and Talent Management, Hudson. "They
remain concerned about finance-related issues, but that
apprehension has boiled over so they are now seeing a more
widespread problem."
Consistent with recent months, the work force continues to be
troubled by the state of their finances, as just 34 percent claimed
theirs were improving, down five points from October. In addition,
43 percent rated their financial situation favorably, compared to
47 percent in October. There was also a two-point increase to 17
percent in the number of workers who described their finances as
"poor."
All Workers All Workers All Workers All Managers
November 2007 October 2007 November 2006 October 2007
Hudson
Employment Index 91.9 100.8 105.3 101.9
Expected Hiring 25% 28% 30% 26%
Finances Improving 34% 39% 42% 40%
Worried About
Job Security 19% 18% 17% 18%
*A more detailed data report is available at
www.hudson-index.com.
Results are not seasonally adjusted. Next month's Hudson
Employment Index will be released on January 2.
Please note that starting with the January data, the Hudson
Employment Index is moving to a Tuesday release schedule. In 2008,
data will become available three days prior to the Bureau of Labor
Statistics' Employment Situation News Release.
Hudson also publishes the Hudson Report, a quarterly look at
employers' expectations to increase or decrease staff levels in the
Asia-Pacific region. Contact Hudson for additional information.
The Hudson Employment Index
The Hudson Employment Index (www.Hudson-Index.com) is based on
monthly telephone surveys with approximately 9,000 U.S. workers.
The Index tracks aggregate employment trends regarding career
opportunities, hiring intentions, job satisfaction and retention.
The data is compiled each month by Rasmussen Reports, LLC, an
independent research firm (www.RasmussenReports.com).
Survey results are segmented by 11 cities: Atlanta, Boston,
Chicago, Dallas-Ft. Worth, Los Angeles, Minneapolis-St. Paul, New
York, Philadelphia, San Francisco, Tampa-St. Petersburg, and
Washington, D.C. The Index surveys five occupational sectors:
accounting and finance, health care, information technology,
manufacturing and legal. The Hudson Employment Index also measures
employee confidence by age, gender, race and compensation.
Data reported in this release is based on a national telephone
survey of 9,096 working Americans during the month of November. The
margin of sampling error for a survey based on this number of
interviews is approximately +/-1 percent with a 95 percent level of
confidence. The data is not seasonally adjusted. It will be
reviewed at year-end to determine if seasonal adjustments are
appropriate. The Hudson Employment Index is a service mark owned by
Hudson Highland Group, Inc.
Hudson
Hudson (NASDAQ: HHGP) is a leading provider of permanent
recruitment, contract professionals and talent management services
worldwide. From single placements to total outsourced solutions,
Hudson helps clients achieve greater organizational performance by
assessing, recruiting, developing and engaging the best and
brightest people for their businesses. The company employs more
than 3,600 professionals serving clients and candidates in more
than 20 countries. More information is available at
www.hudson.com.
SPECIAL NOTE: Safe Harbor Statement Under the Private Securities
Litigation Reform Act of 1995: Except for historical information
contained herein, the statements made in this release constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements involve certain risks
and uncertainties, including statements regarding the company's
strategic direction, prospects and future results. Certain factors
including factors outside of our control, may cause actual results
to differ materially from those contained in the forward-looking
statements, including economic and other conditions in the markets
in which we operate, risks associated with acquisitions,
competition, seasonality and the other risks discussed in our Form
10-K and our other filings made with the Securities and Exchange
Commission, which discussions are incorporated in this release by
reference.
Contact: Sarah Kafenstok Hudson (312) 795-4202 Email Contact
Anshula Ahluwalia Ogilvy Public Relations for Hudson (312) 397-6074
Email Contact
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