Accountants’ Confidence Slides in December

Accounting and finance workers confidence fell nearly five points in December, according to the Hudson Employment Index. Despite reporting the lowest figure of the year for job satisfaction, at 68 percent, and declining confidence in hiring expectations and job security, they still remained more positive than other workers.

The Hudson Employment Index for accounting and finance workers indicates:

  • Fewer workers expected their firms to be hiring, dropping three points to 33 percent.
  • More people, up two points to 21 percent, anticipate layoffs.
  • Only 68 percent were happy with their current jobs in December, down from 72 percent the previous month.
  • The number of people worried about job security increased to 22 percent from 19 percent in November.
  • Confidence in personal finance declined marginally as well.

Overall, worker confidence climbed to 103.4 during December, which is still slightly lower than the 103.9 level for accounting and finance workers. In addition, 75 percent of all workers reported they were happy with their jobs and 41 percent of private sector managers said their companies planned to add staff.

“Heading into the new year, across-the-board improvements are giving rise to a more hopeful workforce, consistent with a growing demand for skilled labor and increased financial confidence,” Steve Wolfe, executive vice president, Hudson, North America said in a prepared statement announcing the results. “Multiple signs indicate that improving expectations about the employment market will jump start 2006.”

The Hudson Employment Index is based on monthly telephone surveys with approximately 9,000 U.S. workers in four occupational sectors. Data reported for December is based on 9,294 telephone surveys and have a margin of sampling error is approximately +/-1 percent and a 95 percent level of confidence.

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