According to the most recent Randstad U.S. Employee Confidence Index, workers were slightly less confident in job availability and the strength of the economy in April, as the Index slightly decreased by 0.6 points to 56.5. Although a small decline, the Index remains level to where it stood at this time last year (57.0 in April 2013). At the same time, over a third (36%) of U.S. workers expressed an increased desire to conduct a job search in the next 12 months.
Additionally, the Bureau of Labor Statistics Employers added 288,000 jobs in April, significantly more than the 218,000 economists were expecting, according to Forbes. Also, the unemployment rate, declined from 6.7% to 6.3%, the lowest rate since before the financial crisis.
“While U.S. workers may still be wary of the state of the economy, we are finding that their overall personal confidence, which weighs in at 69.3, reached its highest level since September 2008,” said Jim Link, Chief HR Officer, Randstad North America. “There appears to be a clear distinction between workers’ beliefs about the overall economy and that of their own personal situation. For example, this month’s index finds the clear majority of workers are confident in the future of their current employer, while another half are confident in their ability to find a new job. Further, nearly three-quarters of workers say it is unlikely they will lose their job in the next 12 months.
Millennial Workers Among Most Confident About Job Market, but Also Most Restless
The report findings also showed Millennial workers are among the most confident when it comes to several aspects of the job market. In fact, the report found the majority (53%) of 18-34 year old workers are confident in not only their ability to find a new job, but also the second most confident among all generations when asked about the availability of jobs. Not surprisingly, the Millennial workforce is the most likely among all generations to consider looking for a new job in the next 12 months – with nearly half (48%) planning to do so over the next year.
“Given the sheer size and capabilities of the Millennial workforce, employers must make the recruitment and retention of these workers a priority,” says Link. “However, for many of these younger workers, the choice to work for, or stay employed with, an organization is not a decision they take lightly. We find these workers seek out strategic opportunities to invest their time where they can make a difference, and with a company that shares their values. In fact, according to Interbrand, over 20 percent of employees under the age of 30 say they would prefer to have a lower-paying job with a brand in which they believe. As evidenced by our Employee Confidence Index, Millennial workers appear ready to seek out new opportunities that fulfill these expectations.”
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