Worker confidence among accounting and finance professionals slipped 4.2 points, to 108.8, during March, according to the Hudson Employment Index. The dip in confidence reflects the fact that nearly a quarter (24 percent) expect their employers to lay off staff in the coming months. Despite this, confidence remains higher than the 107.2 level of a year ago.
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“While the latest Index registered a slight hiccup in worker confidence in March, the last two months indicate that the job market continues to strengthen, particularly compared to last year,” said Steve Wolfe, executive vice president, Hudson, North America. “Leading indicators are pointing in multiple directions, but the work force is holding onto a general sense of financial well-being and job satisfaction.”
A record number of professionals anticipating staffing reductions wouldn’t seem to indicate a strengthening job market, however in March, only 18 percent of workers are concerned about losing their jobs, down from 20 percent the previous month. In addition, while the number of respondents anticipating hiring dropped 4 points, reflecting the least optimistic level since last August, 31 percent of those surveyed expect their company to be hiring. Further, 56 percent of accounting and finance professionals rated their finances as excellent or good and 47 percent indicated their financial situations were improving. Both numbers declined by 3 points from February levels.
The Hudson Employment Index is based on response from nearly 9,442 workers across the nation, in all industries, during the month of March. The margin of sampling error for surveys based on this number of interviews is approximately +/- 1 percent, with a 95 percent level of confidence. Data is not seasonally adjusted at this time. It will be reviewed at year-end to determine if seasonal adjustments are appropriate.
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