Record High Hiring Expectations Boost Worker Confidence
May 03 2006 - 7:00AM
PR Newswire (US)
Hudson Employment Index(SM) Rises to 107.7 NEW YORK, May 3
/PRNewswire/ -- Worker confidence in the U.S. labor market remained
strong in April as the Hudson Employment Index(SM) climbed 1.5
points to 107.7. The April reading, which is 5.3 points higher than
this time last year, was fueled by a surge in hiring expectations
among employees and managers. Work Force Projects Strong Hiring The
number of workers expecting their employers to boost headcount in
the coming months rose two points in April to an all-time high of
34 percent. Private sector workers were even more optimistic with
40 percent expecting their firms to add staff. Not since October
2004 has confidence on the hiring front been so bullish among
workers. Managers echoed that sentiment, 34 percent reporting this
month that they expected their firms to be hiring, up from 32
percent the previous month. Other Factors Hint at Softening Despite
expectations of robust hiring, workers revealed weakened confidence
in other areas. Ironically, the numbers of employees expecting
layoffs and concerned about job security each gained a point,
rising to 17 percent and 21 percent, respectively. There was also a
one-point drop to 74 percent among respondents content with their
jobs. Additionally, 40 percent indicated that their finances were
getting worse, the highest percent to make this claim since last
year. "Rising energy prices and interest rates may overshadow the
optimism employees have in the labor market in the coming months,"
said Steve Wolfe, executive vice president, Hudson, North America.
"While we don't expect worker confidence to fall dramatically, we
are likely to see a softening as people struggle with greater
day-to-day financial strain." Private Sector All Workers Workers
All Managers All Workers April 2006 April 2006 April 2006 April
2005 Hudson Employment Index 107.7 106.9 116.7 102.4 Expected
hiring 34% 40% 34% 32% Personal finances getting worse 40% 41% 36%
40% Concerned about job security 21% 22% 19% 21% * 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 31. 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
9,619 working Americans during the month of April. 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 talent management 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.hudson-index.com/
http://www.rasmussenreports.com/
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