Hudson Employment Index(SM) Ends Year on Low Note
January 02 2008 - 6:00AM
Marketwired
NEW YORK, NY fell 4.6 points in December to 87.3, as workers'
confidence in the U.S. labor market continued to decline. Virtually
all of the factors used to calculate the Index weakened in
December, leaving the measure more than 15 points below the 102.7
recorded a year ago.
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. Starting with
the January 2008 data, the Hudson Employment Index is moving to a
Tuesday release schedule. Data will become available three days
prior to the Bureau of Labor Statistics' Employment Situation News
Release. Next month's Hudson Employment Index will be released on
January 29. Results will be seasonally adjusted beginning next
month as well.
The work force continued to be concerned with the state of their
finances. In December, just 33 percent of workers reported that
they thought their personal finances were improving. That is down
one point from November and five points from October. In addition,
42 percent rated their financial situation favorably, compared to
43 percent in October. There was also a two-point increase to 19
percent in the number of workers who described their finances as
"poor."
"Amid increasing talks of recession, workers' outlook can be
significantly shaped by what they see and hear in the news," said
Robert Morgan, co-president of Recruitment and Talent Management,
Hudson. "In actuality, the situation may not be as bad as some
believe. For instance, the Bureau of Labor Statistics continues to
report stable job growth on a monthly basis, indicative of the fact
that there are still employment opportunities out there."
Nevertheless, the number of workers who thought their employers
were in hiring mode fell another two points to 23 percent in
December. There was also a one-point up-tick to 18 percent among
people expecting their employers to cut staff. At the same time,
the number of people who were not worried about losing their jobs
dropped three points to 70 percent in December.
"In the new year, workers should understand that the situation
can improve and their employers are still hiring," says Morgan.
"The Index registered its record high in early 2007, so clearly, a
lot can happen in just a few months."
All Workers All Workers All Workers All Managers
December 2007 November 2007 December 2006 December 2007
Hudson Employment
Index 87.3 91.9 102.7 96.1
Expected Hiring 23% 25% 30% 24%
Finances Improving 33% 34% 41% 37%
Worried About
Job Security 20% 19% 18% 18%
*A more detailed data report is available at www.hudson-index.com.
Hudson also publishes the Hudson Report, a quarterly look at
employers? expectations to increase or decrease staff levels in the
Asia-Pacific region. The Q1 2008 results will be released on
January 17. 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 9,055 working Americans during the month of December. 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 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
Jamie Hamburg Hudson (312) 795-4210 Email Contact
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