Slightly fewer workers believe the economy is getting weaker and more believe that the number of jobs increased according to the Randstad Employee Confidence Index. This online survey of more than 1,200 working adults ages 18 and over edged up by 0.8 points to 45.6 in October. The Index measures workers’ confidence in their personal employment situation and optimism in the economic environment.
More than half (51 percent) of U.S. workers believe the economy has weakened, a two percentage points improvement from September. Twelve percent believe that more jobs are available, up from 9 percent.
Sixty percent, unchanged from last month, indicated that they are confident in their employer’s future, while 36 percent expressed confidence in their ability to find a new job, an increase of one percentage point.
On the job security front, 68 percent, a decrease of one percentage point, said it is unlikely they will lose their jobs in the next year, while just over a third (34 percent) said they are likely to look for a new job in the next 12 months. This is up from 32 percent in September.
“Worker confidence in the economy and in the job market continues its sluggish climb back to higher levels," said Joanie Ruge, senior vice president and chief employment analyst of Randstad Holding U.S in a statement. "It appears that many businesses and consumers alike are feeling uncertain in terms of a recovery in the near term due to mixed economic signals.”
The Thomson-Reuters/University of Michigan consumer sentiment survey also reflected wariness toward the direction of the economy, their own finances, and spending. A preliminary reading of its monthly index found a drop from 59.4 to 57.5 in October. The index of consumer expectations, which gauges attitudes toward personal finances and the general economy in the short- and long-term, fell from 49.4 to 47, its lowest level in more than 30 years. Nearly 40 percent of consumers blame loss of income as the primary reason why their financial situation as gotten worse, while 65 percent of households do not expect to see an income increase in the year ahead.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.