Improved Personal Finances Spur Year-End Jump in Worker Confidence
January 04 2006 - 6:00AM
PR Newswire (US)
Hudson Employment Index(SM) Gains 3.3 Points NEW YORK, Jan. 4
/PRNewswire-FirstCall/ -- The Hudson Employment Index(SM) climbed
to 103.4 from 100.1 in December, reflecting a substantial increase
in the confidence of U.S. workers. Increased optimism about
personal finances and job security fueled the jump in the Index.
This month marked the first time since January 2005 that the Index
was higher than the same month last year. All Contributing Factors
Make Gains For the third consecutive month, more workers (43
percent) reported that their personal finances were improving, a
three-point rise from November and a seven-point rise from
September. This was the highest value reported since February.
Forty percent of workers said their finances were getting worse, a
two-point drop from the previous month. Additionally, 73 percent of
workers surveyed were not concerned about losing their jobs in
December, up from 71 percent in November. Other measures
influencing the Hudson Employment Index, including expected layoffs
and job satisfaction, also showed minor improvements. Hiring
expectations remained flat, with 30 percent saying their firms
would hire in the coming months. "Heading into the new year,
across-the-board improvements are giving rise to a more hopeful
workforce, consistent with a growing demand for skilled labor and
increased financial confidence," said Steve Wolfe, executive vice
president, Hudson, North America. "Multiple signs indicate that
improving expectations about the employment market will jump start
2006." Private Sector Managers More Upbeat Bolstering the optimism
reported by the workforce at large, managers in the private sector
were significantly more confident in the employment market than in
November. Forty-one percent said their companies planned to add
staff, up from 35 percent in November. Additionally, 25 percent
said their finances were excellent, compared to 20 percent the
previous month. Other sectors reporting stronger confidence in the
employment market in December included workers earning between
$20,000 - $75,000 and information technology and manufacturing
professionals. All Workers All Workers All Workers December 2005
Average 2005 December 2004 Hudson Employment Index 103.4 101.5
102.9 Expected hiring 30% 31% 31% Expected layoffs 17% 17% 19%
Rated personal finances as excellent 13% 12% 11% Happy with job 75%
74% 70% * A more detailed data report is available at
http://www.hudson-index.com/. Hudson, one of the world's leading
professional staffing, outsourcing and human capital solutions
providers, publishes the Hudson Employment Index, a monthly measure
of U.S. worker confidence in the employment market. Results are not
seasonally adjusted. Next month's Hudson Employment Index will be
released on February 1, 2006. Beginning next month, results will be
available for Hispanic workers and those in the legal sector. The
Hudson Employment Index The Hudson Employment Index
(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
(RasmussenReports.com). Survey results are segmented by 11 cities:
Atlanta, Boston, Chicago, Dallas, Los Angeles, Minneapolis-St.
Paul, New York, Philadelphia, San Francisco, Tampa, and Washington,
D.C. The Index surveys four occupational sectors: accounting and
finance, health care, information technology, and manufacturing.
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 9,294 working Americans
during the month of December. 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. Note
to Editors Hudson recently launched an updated Web site
(http://www.hudson-index.com/) with improved access to city- and
occupation-specific data. 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 solutions
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: Nikki Leonardi, of Hudson,
+1-813-890-7521, ; or Anshula Ahluwalia, of Ogilvy Public
Relations, +1-312-397-6074, , for Hudson Web site:
http://www.hudson.com/
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