Worker Confidence Dips in May
Memorial Day is behind us and June portends a heated summer, but worker confidence cooled considerably over the past month according to the Hudson Employment Index. The index fell 5.4 points to 102.3, primarily due to a drop in optimism regarding personal finances and the expectation among employees of decreased hiring in the coming months.
Steve Wolfe, Hudson’s Executive VP, noted that the drop in confidence is not unexpected, especially when you consider the elevated gas prices, rising interest rates and slipping stocks, which are all compounded by upcoming seasonal factors.
Despite the general lack of confidence, there is some good news about how employees are feeling. The survey showed that most workers are satisfied with their jobs and are confident of their job security. Only 20% of the workforce was concerned about job loss in May, does from 21% in April and from 22% in May, 2005.