After declining in May, confidence among accounting and finance workers rebounded to 110 in June, according to the Hudson Employment Index(SM). This level is lower than the 113.2 level of the previous year. In addition, the composite Index rose 0.1 point, to 102.4.
The Hudson Employment Index for accounting and finance workers revealed that:
- Compared to May, when 21 percent of workers were concerned about job loss, only 17 percent made that statement in June. This is the lowest number to make this claim since last October.
- Nearly three-quarters (74 percent) of the work force was happy with their job in June, up from 71 percent in May and 70 percent in April.
- 24 percent of those surveyed expect their companies to lay off staff, a three point increase over May.
- Workers had mixed feelings about their finances in June. Both the number of workers describing their finances as excellent (20 percent) and those rating their situation as poor (15 percent), increased by 3 points.
The 102.4 level from June marks the first time the composite Index is lower than for the same period during the previous year. For three consecutive months, workers have increasingly described their finances negatively, with 43 percent believing their financial situation is getting worse, a four point increase since March. The number of workers describing their finances as poor rose to 18 percent in June as well.
Workers at companies having more than 500 employees were significantly more optimistic in June than in May. Improved perceptions of personal finance, heightened job security and increased job satisfaction all contributed to the rise in confidence for this group.
“Larger organizations are less likely to be affected by the current softening in the economy,” Steve Wolfe, executive vice president, Hudson, North America, said in a prepared statement. “These employers can leverage their resources to financially help their employees by offering perks such as higher mileage reimbursement, flexible work arrangements and carpools.”
The Hudson Employment Index is based on monthly telephone surveys with approximately 9,000 U.S. workers. The Index tracks aggregate employment trends regarding career opportunities, hiring intentions, job satisfaction and retention. The data is compiled each month by Rasmussen Reports, LLC, an independent research firm.
Previous coverage of the Hudson Employment Index includes: