IT Worker Confidence on the Mend

Jul 7, 2005

Allen Bernard

Confidence among IT workers rose in June according to the most recent Hudson Employment Index, a monthly measure of U.S. workforce confidence in the employment market. Confidence in the sector jumped 11 points from 93.2 to 104.2; rebounding from a 21 point loss last month.

The increase was driven by improved perceptions of personal finances and a rise in anticipated hiring activity. The national index also rebounded 3.1 points to 103.0.

That is the highest reading since January's 107.0 Index, but well below the level of 107.5 during the same period one year ago.

Nationally, after four months of steady decline, 42% of workers said their finances are getting better, up from 39% a month ago. Conversely, the percent reporting that their situation was getting worse fell three points to 39%.

Additionally, 45% of workers now rate their personal finances as good or excellent, up from 43% the previous month.

Workers also expressed an improved sense of confidence in their companies' hiring plans. The number who said their companies are hiring held steady at 31%, but the number reporting that their organizations are laying workers off fell from 19% to 17%.

Also, fewer U.S. workers are concerned about personal job loss, as that figure dropped one point to 21%.

Similar to the overall results, confidence among IT workers recovered in June after plummeting in May. Optimism also rose among the other occupational sector polls for healthcare and manufacturing.

"The rebound in worker confidence we saw this month has more to do with workers' self-interests than with companies' overall hiring plans," said Jeff Anderson, senior vice president, Hudson, North America. "Even as employees are feeling more secure in their jobs and finances, employers are still facing the prospect of the summer lull in business activity."

Managers, who typically have been more optimistic regarding hiring plans than the national average, fell more in line with the overall workforce this month.

In June, the number of managers expecting their companies to hire declined to 32%, compared to 35% in May.

Survey Methodology

The Hudson Employment Index is based upon monthly telephone surveys with approximately 9,200 U.S. workers in 11 metropolitan areas. The Index tracks aggregate employment trends around career opportunities, hiring intentions, job satisfaction and retention. The data is compiled each month by Rasmussen Reports, LLC, an independent research firm.


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