Worker Confidence Cools, Yet Remains Hot in March
April 05 2006 - 7:00AM
PR Newswire (US)
Hudson Employment Index(SM) Registers 106.2 NEW YORK, April 5
/PRNewswire/ -- Coming off of a 15-month high of 108.2 in February,
the Hudson Employment Index(SM) fell two points in March to 106.2.
While none of the factors influencing the Index reported any
noteworthy changes, there was a slight easing of optimism virtually
across the board. The latest reading remains among the highest on
record and considerably stronger than last March, when it was
101.2. Workers Expect Less Hiring, Firing The number of workers
expecting their firms to hire dropped one point to 32 percent in
March after reaching a near record high (33 percent) in February.
Nonetheless, confidence regarding hiring expectations was higher in
March than in all of 2005. In addition, fewer workers anticipated
their firms would resort to layoffs, declining from 17 percent in
February to 16 percent. "While the latest Index registered a slight
hiccup in worker confidence in March, the last two months indicate
that the job market continues to strengthen, particularly compared
to last year," said Steve Wolfe, executive vice president, Hudson,
North America. "Leading indicators are pointing in multiple
directions, but the work force is holding onto a general sense of
financial well-being and job satisfaction." What a Difference a
Year Makes While 46 percent rated their finances as excellent or
good this March, only 43 percent made that claim one year ago.
There was also a one-point year- over-year drop to 15 percent in
the number of workers who described their financial situations as
poor. Additionally, the latest Index found three- quarters of
employees were happy with their jobs, compared to 73 percent who
made that statement in March 2005. Michigan Worker Sentiment
Reflects Struggling Auto Industry As anticipated, job security
concerns among Michigan workers were at a record high (29 percent)
for the past two months. The number of employees expecting their
company to lay off staff is nine points higher in Michigan than
reported nationwide (25 percent versus 16 percent). All Workers All
Managers Michigan March 2006 March 2006 Workers All Workers March
2006 March 2005 Hudson Employment Index 106.2 113.9 84.4 101.2
Expected hiring 33% 32% 20% 31% Expected lay offs 16% 18% 25% 17%
Rated finances as excellent 13% 19% 8% 11% * A more detailed data
report is available at http://www.hudson-index.com/. Hudson, one of
the world's leading professional staffing, outsourcing and talent
management 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 May 3. 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
9,442 working Americans during the month of March. 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 talent management 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. DATASOURCE: Hudson
CONTACT: Sarah Kafenstok of Hudson, +1-312-795-4202, ; or Anshula
Ahluwalia of Ogilvy Public Relations, +1-312-397-6074, , for Hudson
Web site: http://www.hudson.com/ http://www.rasmussenreports.com/
Copyright