U.S. Employee Confidence Level Rises in November for Third Consecutive Month
Job security levels remain high; majority of workers feel it is unlikely they will lose their jobs
ATLANTA, Ga., December 2, 2014
– For the third consecutive month, U.S. employee confidence rose in November, according to the Randstad U.S. Employee Confidence Index. Nearly four in ten workers (37 percent) believe the economy is strengthening compared to 29 percent who feel the economy is weakening. The Randstad Index, which tracks U.S. workers’ monthly perspectives around jobs and the economy, increased 0.5 points to 58.7 from 58.2 in October. The study was conducted online by Harris Poll on behalf of Randstad, among 1,052 employed U.S. adults ages 18 and older.
Employees’ confidence in the availability of jobs changed little in November, while their confidence in finding a new job continued to rise. Approximately three-in-ten employees (29 percent) expressed increased confidence in the availability of jobs, relatively unchanged from last month (30 percent). Meanwhile, 51 percent of workers are confident in their ability to find a job, a four percentage point increase from October. Not surprisingly, as more workers gained confidence in their ability to find a new job, their intent to do so rose as well. Nearly four in ten employees (37 percent) said it was likely they would look for a new job in November, a three percentage point increase from October.
Randstad’s job security index, which tracks workers’ beliefs about the likelihood of losing their current job, continues to indicate growing job security among employees. In fact, as the highest percentage of all indexes tracked by Randstad, a full 70 percent of workers feel it is not likely they will lose their job in the next 12 months.
“As we near the end of a year marked by ongoing recovery, employees recognize the stable and robust health of the economy and job market,” said Jim Link, Chief HR Officer, Randstad North America. “On the heels of several years wrought with corporate layoffs, it is particularly impressive to note today’s workers express high levels of job security. Our job security index findings mirror this year’s dramatic decline in U.S. layoffs and the shrinking number of applicants for new unemployment benefits. In fact, in the week ending Nov. 15, initial jobless claims fell by 2,000 to a seasonally adjusted 291,000 and totaled fewer than 300,000 for the 10th straight week. Also in that time period, the number of people already receiving unemployment benefits fell to a 14-year low.”
Falling jobless claims stem from both fewer layoffs and increased hiring, and the economy is on track to add the most jobs in at least a decade, in large part from small-business hiring activity. As consumers are encouraged this month to shop small businesses, it’s important to note these smaller organizations’ role in fueling job growth. According to payroll provider ADP’s latest employment report, nonfarm private small business payrolls rose by 102,000 in October and accounted for 45 percent of employment gains across all payroll size groups. In fact, for the third consecutive month, the nation’s smallest businesses contributed more job openings than their larger counterparts.
“The Small Business Administration reports approximately 28 million small businesses in the United States, and impressively this group has generated more than 65 percent of net new jobs since 1995,” continued Link. “We also know more than half of the working population is employed by a small business. While it’s easy to focus on well-known brands and the nation’s Fortune 500 companies, the role small employers play in our nation is unmistakable, and they offer tremendous career opportunities for today’s workers.”
Randstad, the second largest staffing and HR services firm in the world, has been tracking workforce trends and publishing the U.S. Employee Confidence Index since 2004.
About Randstad US
Randstad US is a wholly owned subsidiary of Randstad Holding nv, a $22.0 billion global provider of HR services. As the third largest staffing organization in the U.S., Randstad holds top positions in permanent placement, office and administrative, IT and accounting and finance. From professional services, commercial staffing and recruitment process outsourcing to managed services and more, Randstad delivers a comprehensive range of temporary, temporary-to-hire, permanent placement and outsourced placement services. With its 5,324 employment experts, Randstad puts an average of approximately 100,000 people to work in the United States each week through its network of nearly 1,000 branches and client-dedicated locations.
Learn more at www.randstadusa.com
and access Randstad’s panoramic U.S. thought leadership knowledge center through its Workforce360 site that offers valuable insight into the latest economic indicators and HR trends shaping the world of work.
This 2014 Randstad Employment Tracker was conducted online within the United States by Harris Poll on behalf of Randstad between November 3-5, 2014 among a U.S. sample of 1,052 employed adults, aged 18 years and older. Results were weighted as needed for age, sex, race/ethnicity, income, education and region. Propensity score weighting was also used to adjust for respondents’ propensity to be online.
All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, the words “margin of error” are avoided as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.
Respondents for this survey were selected from among those who have agreed to participate in Harris Poll surveys. The data have been weighted to reflect the composition of the adult population. Because the sample is based on those who agreed to participate in the online panel, no estimates of theoretical sampling error can be calculated.
About The Harris Poll
Over the last five decades, Harris Polls have become media staples. With comprehensive experience and precise technique in public opinion polling, along with a proven track record of uncovering consumers’ motivations and behaviors, The Harris Poll has gained strong brand recognition around the world. The Harris Poll offers a diverse portfolio of proprietary client solutions to transform relevant insights into actionable foresight for a wide range of industries including health care, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant and consumer packaged goods. Contact
us for more information.
Kristin McHugh, PR Manager, Randstad, 954-308-7673; firstname.lastname@example.org