U.S. Workers are Confident in Future of Current Employers, Despite Doubts on Economy

Despite a waning economy and rising unemployment, a new survey has found that 66% of workers are confident in the future of their current employer and 49% express confidence in their ability to find a new job.

The Spherion® Employee Confidence Index dropped 0.9 points to 45.2 in July, decreasing to a new low since tracking began in June 2004. Contrary to the June 2008 report, which showed that both personal confidence indicators were on the decline, the July data demonstrates a positive upswing, as worker confidence in the future of their employers increased 3%.

At the same time, optimism in the economy waned in July, as the percentage of workers confident in the strength of the economy and the job market both declined by two percentage points. However, 76% of workers believe it is unlikely they will lose their current job, showing no change from June and 33% of workers are likely to look for a new job in the next 12 months.

"Given the current state of the economy, we are encouraged by the high number of workers feeling secure in their jobs and the rise in the percentage of workers who are confident in the future of their employers," said Roy Krause, president and CEO of Spherion Corporation. “This level of confidence is not unlike what we have seen in previous downturns and is indicative of how workers feel about their own abilities and their personal situations despite the instability of the economic environment around them."