Worker Confidence Index Stagnant

August 8, 2011 – The SFN Group Employee Confidence Index slipped 0.3 points to 47.8 in July. The Index, which measures workers' confidence in their personal employment situation and optimism in the economic environment, showed little change from June. However, a noticeable decline was seen in economic optimism, with fewer workers expressing confidence in the strength of the economy and job availability. Sixteen percent of U.S. workers believe the economy has strengthened, down from the 20 percent of workers who expressed confidence in June. Three-fifths (61 percent) of workers believe there are fewer jobs available, increasing three percentage points from last month. “Employee confidence declined for the second consecutive month, registering at its lowest point since July 2009 when our Index stood at 46.7,” said Roy Krause, president and CEO of SFN Group. “I have no doubt that the news surrounding the U.S. debt ceiling negotiations contributed to the concerns and anxiety that our workforce is feeling. Additionally, many employers continue to focus on increasing operational efficiencies and are hesitant to add additional permanent staff until more positive news comes out about the health of the economy.” Sixty-nine percent of workers believe that it is unlikely they will lose their jobs in the next 12 months. This is an increase of one percentage point from the previous month. One-third (33 percent) of workers are likely to look for a new job in the next 12 months, a slight dip from the 35 percent of workers who indicated the likelihood to make a job transition in June. The online survey was conducted by Harris Interactive on behalf of the SFN Group and surveyed 1,383 employed U.S. adults, aged 18 and over between July 11 and 13, 2011.