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Saturday, January 05, 2008

Survey Shows Overall Employee Confidence Drops to Year Low

The confidence level of U.S. workers slightly decreased in December, according to a recent survey of 2,827 working adults. The Spherion Employee Confidence Index, a monthly gauge of overall worker confidence, decreased by 0.9 point to 52 in December, the lowest level recorded this year.

The survey, conducted by Harris Interactive on behalf of Spherion Corporation (NYSE: SFN), revealed that while slightly fewer workers were optimistic about job availability, more were confident in the future of their current employer.

According to the Index, the percentage of workers who believed the economy was getting stronger was unchanged at 12 percent, while slightly fewer workers believed that are more jobs available. Despite this, the percentage of workers who are confident in the future of their current employer increased three percentage points from November to 64 percent. In addition, the number of workers likely to look for a new job in the next year remains stable at 32 percent and nearly eight-in-ten (78 percent) workers feel that they are unlikely to lose their job in the next 12 months.

"With the continuing turmoil in the housing and credit markets and concerns of an overall slowing in the economy, it's not surprising that the Employee Confidence Index has continued its decline," says Roy Krause, president and chief executive officer of Spherion. "This month's Index reached its lowest level in the past year, but not all of the data is negative. In fact, the majority of workers remain confident about their own job security and the future of their current employer. The data also shows that nearly a third of workers plan on finding a new job in the next year, indicating that this certainly isn't the time for employers to ease up on their retention and recruiting efforts. It's those employers who make the extra effort now to be recognized as an employer of choice who will reap the benefits from having top talent in the years to come."

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