Slump In Hiring Intentions Brings Employee Confidence Near Annual Low
December 01 2004 - 6:00AM
PR Newswire (US)
Slump In Hiring Intentions Brings Employee Confidence Near Annual
Low Hudson Employment Index(SM) Drops 3.6 Points to 104.9 NEW YORK,
Dec. 1 /PRNewswire-FirstCall/ -- The Hudson Employment Index(SM)
fell 3.6 points to 104.9 in November as hiring expectations among
U.S. workers declined to the lowest level of the year. This month's
reading is the second lowest posted by the Index in 2004 and
reflects the U.S. working population's lowered expectations during
what is typically the slowest season of the year. The number of
both workers and managers who say their firms are hiring dropped
three points in November, to 31 percent and 32 percent
respectively. 'Hudson Employment Index' polling also revealed that
the percentage of U.S. workers worried about losing their own jobs
increased from 16 percent in October to 18 percent in November. In
a related finding, the percentage of workers who say their
financial situation is getting better declined a point to 42
percent. Additionally, the proportion of workers who feel their
personal finances are good or excellent fell nearly two points to
45 percent, compared to 54 percent who say they are only fair to
poor, a one-point increase from last month. "This month's decline
reflects a typical cycle for this time of year," said Jeff
Anderson, senior vice president of Hudson Global Resources. "As we
approach the holiday season, companies are putting off hiring
initiatives until the new fiscal year and workers are feeling the
pinch on their wallets as they anticipate increased spending."
Percentage of respondents who say their companies are hiring in
coming months: Dec '03 Jan '04 Feb Mar Apr May Jun Jul Aug Sep Oct
Nov All 29 31 31 33 33 32 34 33 33 32 34 31 Workers Managers 32 33
32 35 35 33 36 34 34 33 35 32 Private- Sector Employees 32 36 36 38
39 39 39 39 39 38 39 37 Hudson, one of the world's leading
professional staffing, outsourcing and human capital solution
providers, publishes the Hudson Employment Index, a monthly measure
of the U.S. workforce's confidence in the employment market. Next
month's Hudson Employment Index will be released on January 5,
2005. The Hudson Employment Index The Hudson Employment Index
(http://www.hudson-index.com/) measures the U.S. workforce's
confidence in the employment market. Based upon monthly telephone
surveys with approximately 9,000 U.S. workers, the Index tracks
aggregate employment trends around career opportunities, hiring
intentions, job satisfaction and retention. The Index is compiled
each month by Rasmussen Reports, LLC, an independent research firm
(http://www.rasmussenreports.com/). Data reported in this release
is based upon a national telephone survey of 8,787 working
Americans during the month of November. The margin of sampling
error for a survey based upon this many 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 delivers specialized professional staffing, outsourcing and
human capital solutions worldwide. From single placements to total
solutions, the firm assesses, recruits and develops talent to meet
the specific business needs of each client. Global practice areas
include Accounting & Finance; Engineering, Operations &
Scientific; Healthcare; Human Resources; IT &
Telecommunications; Legal; and Sales & Marketing. Hudson is a
division of Hudson Highland Group, Inc. (NASDAQ:HHGP) one of the
world's leading professional staffing, retained executive search
and human capital solution providers. More information is available
at http://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. DATASOURCE: Hudson
CONTACT: Jennifer Bernhart, Hudson, +1-813-890-7379, ; or Anshula
Ahluwalia of Ogilvy Public Relations +1-312-397-6074 or Web site:
http://www.hhgroup.com/ http://www.rasmussenreports.com/
http://www.hudson-index.com/
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