Index Surges on Managers' Hiring Forecast
March 08 2006 - 6:00AM
PR Newswire (US)
Monthly Measure of Worker Confidence Climbs 5.6 Points in February
NEW YORK, March 8 /PRNewswire/ -- The Hudson Employment Index(SM)
climbed to 108.2 in February, up 5.6 points from January's 102.6
reading. The rise is attributed to a significant increase in the
percentage of workers and managers who expect their employers to
hire, as well as improved expectations regarding personal finances.
The latest Index is among the strongest readings on record, and
considerably higher than the 102 recorded in February 2005.
Workforce Foresees Hiring Bump Workers overall were more likely to
anticipate hiring in February than at the very start of the year.
One-third (33 percent) of the workforce indicated their firms had
plans to hire, the most optimistic they have been in this respect
since October 2004. This figure had held steady near 30 percent for
the last four months. Notably, 45 percent of managers in the
private sector projected an increase in head-count, up from 38
percent in January. There was also a four-point jump to 34 percent
in the number of all managers forecasting hiring within their
organization. "On the heels of a conservative start to the year,
managers are feeling more comfortable putting their 2006 hiring
plans in gear," said Steve Wolfe, executive vice president, Hudson,
North America. "This news along with a strong GDP, lower
unemployment rates and the growing demand for skilled labor in
certain sectors such as healthcare, financial services and IT are
strong indications that the economy is growing steadily."
Confidence in Personal Finances Supports Worker Optimism Worker
sentiment regarding their financial situations also improved in
February. The number who rated their finances favorably (good or
excellent) was at its highest level on record at 46 percent. At the
same time, there was a one-point increase among employees who said
their finances were improving to 43 percent, a level that has not
been topped since last February. All Workers All Managers Private
Sector All Workers February February Managers February 2006 2006
February 2005 2006 Hudson Employment Index 108.2 119.4 126.7 102
Expected hiring 33% 34% 45% 31% Expected lay offs 17% 16% 14% 18%
Personal finances improving 43% 50% 54% 44% *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 April 5. 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 (http://www.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 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 9,536 working Americans during the
month of February. 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
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 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. Contact: Sarah Kafenstok Anshula Ahluwalia Hudson Ogilvy
Public Relations (312) 795-4202 (312) 397-6074 DATASOURCE: Hudson
CONTACT: Sarah Kafenstok of Hudson, +1-312-795-4202, ; or Anshula
Ahluwalia of Ogilvy Public Relations, +1-312-397-6074, Web site:
http://www.hudson.com/
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