The Randstad Employee Confidence Index, which measures employees’ confidence regarding their work situation and economic optimism, grew by 2.4 points to 48.0 in November, and more respondents report a greater confidence in their ability to find new jobs.
"Our Employee Confidence Index is nearing the end of 2011 on a relatively high note, despite an unsteady and inconsistent economic year," says Joanie Ruge, senior vice president and chief employment analyst of Randstad Holding US. "As we head into the upcoming holiday season, many retailers are eyeing the monthly employment figures to help predict consumer sentiment — and ultimately consumer spending activity. While job creation still remains steady in the private sector, we have seen more employers and candidates open to part-time work.
"In fact, retailers alone are hiring about 500,000 seasonal employees this year, many of which are part-time, according to the National Retail Federation. While many of these workers would prefer full-time positions, one of the benefits of temporary or part-time employment is the ability to bridge into a permanent position down the road. All in all, we believe that we will continue to see moderate but steady economic growth in the fourth quarter, and that trend should continue as we enter 2012."
The survey, however, also reveals that 45 percent of respondents say the economy is weakening, but that is a 6 percent decrease from the previous month. Another 59 percent of respondents say fewer jobs are available, as opposed to 63 percent of respondents from October.
More respondents at 40 percent, versus 36 percent in October, say they are confident they can find a new job in the next year while the number of respondents saying they are confident in the future of their employers practically remains the same in November at 61 percent. Since September, this metric has been flat.
Seventy-one percent of respondents believe they are likely to become unemployed, compared to 68 percent in October, and 33 percent of respondents say they are likely to look for new employment during the next 12 months, which is a 1 percent decline from October.