U.S. Workers' Optimism Surfaces After Tough Year
December 14 2005 - 5:00AM
PR Newswire (US)
Expectations for Better Jobs and Incomes Rise NEW YORK, Dec. 14
/PRNewswire-FirstCall/ -- Looking ahead to the new year, workers
who expect their job prospects and employment situations to improve
outnumber those who are uncertain or even pessimistic. Nearly half
(47 percent) think their prospects will be better in 2006 than in
2005, according to a national Hudson survey. What's more, 21
percent say they expect to earn significantly more next year, with
another 42% saying they hope to earn at least a little more. The
survey also suggests that workers may be more content to stay put
in 2006. Twenty-nine percent report that they have no plans to look
for a new job, up from one year ago when only 22 percent made that
claim. Even so, a large portion will be on the market, with 37
percent saying it is very or somewhat likely that they will
actively seek new job opportunities in the new year, compared to 42
percent this time last year. "While 2005 was a challenging year on
many fronts, U.S. workers continued to show their resilience and
optimism heading into the new year," said Steve Wolfe, executive
vice president, Hudson, North America. "We anticipate that 2006
will be a stronger year for worker confidence and for workers'
leverage as they seek to improve their skills and investigate new
opportunities." 2005 Hudson Employment Index(SM) Year-in-Review
This month's optimistic view among workers tracks with the latest
uptick in the Hudson Employment Index(SM) - a key measure of
workers' confidence in the employment market - and with recent
reports of strengthening consumer confidence. Over the course of
2005, though, the monthly Index averaged significantly lower than
it did in 2004 - 101.3 through November, compared to last year's
average of 106.2. Four out of the five measures were down on
balance: personal finance ratings, personal finance outlooks,
hiring expectations and layoff concerns. Only job satisfaction was
up overall. Hudson's research showed some important trends across
specific metropolitan markets and occupational sectors, including:
Metropolitan Markets -- Tampa workers recorded the highest 2005
average Hudson Employment Index at 115.6, followed by Washington,
D.C. (110.5). The city with the lowest average Index was New York
(88.1). -- Workers in Boston and Minneapolis-St. Paul had the
greatest job satisfaction among the 11 cities polled, with an
average of 75 percent of the workforce in both cities happy at work
in 2005. Sixty-nine percent of Chicago workers were satisfied with
their jobs, ranking them last overall in this category. --
Atlanta-area workers' confidence in the job market was the most
closely aligned with the national average; the city's 2005 average
Index was 102.0, compared to the national average of 101.3. --
While the average Index was down among workers in Dallas in 2005
compared to 2004, the city's monthly reading surpassed the national
number every month this year. -- On average, 25 percent of San
Francisco-area workers expected their companies to hire this year -
the fewest among all metro markets surveyed. -- The Philadelphia
Index was among the most volatile in 2005, peaking in February at
106.0, but dropping to 80.0 in September. The Los Angeles Index was
one of the most stable, remaining between 99.1 and 109.2 throughout
2005. Occupational Sectors -- The Hudson Employment Index for
manufacturing workers was by far the lowest among the occupational
sectors in 2005. Its annual average was 87.1, although it dropped
to a low of 76.3 in September. -- Accounting and finance workers
were the most optimistic, with an average Index of 107.9, followed
by healthcare workers at 105.3. -- With more than twenty points
between the highest and lowest readings, IT and manufacturing
workers' readings were more volatile than those in healthcare and
accounting and finance. -- Workers in the healthcare sector were
the least likely to expect layoffs, with an average of just 15
percent expressing concern monthly in 2005. The Hudson year-end
national survey is based on responses from 1,874 workers,
comprising a cross-section of the U.S. workforce. An independent
research firm, Rasmussen Reports, LLC
(http://www.rasmussenreports.com/) conducted the survey. A detailed
report is available at http://www.hudson-index.com/. Hudson, one of
the world's leading professional staffing, outsourcing and human
capital solution providers, also publishes the Hudson Employment
Index(SM), a monthly measure of the U.S. work force's confidence in
the employment market. The next monthly Hudson Employment Index
will be released on January 4, 2005. Hudson Hudson delivers
specialized professional staffing, outsourcing, and human capital
solutions worldwide. From single placements to total solutions, the
firm helps clients achieve greater organizational performance by
assessing, recruiting, developing and engaging the best and
brightest people for their businesses. Hudson is a division of
Hudson Highland Group, Inc. one of the world's leading professional
staffing, retained executive search and human capital solution
providers. The company employs more than 3,800 professionals
serving clients and candidates in more than 20 countries through
its Hudson and Highland Partners businesses. 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 of Hudson,
+1-813-890-7379, ; or Sarah Kafenstok of Ogilvy Public Relations,
+1-312-397-6025, Web site: http://www.hudson.com/
http://www.rasmussenreports.com/ http://www.hudson-index.com/
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