Workers’ confidence in the economy fell to 51.1, marking its third consecutive dip in overall confidence levels, according to Randstad's latest Employee Confidence Index.
Specifically, concerns about the strength of the economy and job availability grew. Although the overall June Index fell by 2.1 points, it continues to be three points higher than this time last year, and employee perspectives regarding job availability of jobs and their employers’ futures is mostly unchanged or slightly higher than in January. In fact, employee confidence in the ability to find a new job is up four points from January.
"These first six months of the year have certainly been different than what analysts and economists expected, with less job creation posted in the second quarter," says Joanie Ruge, senior vice president and chief employment analyst for Randstad Holding. "While the economy has unquestionably added jobs at a very modest pace, it is certainly interesting to see that workers remain confident about the stability of their current jobs, employers and ability to find employment.
"It is clear, however, that the economy and job market are continuing to weigh heavily on the minds of U.S. workers. This sentiment will also likely remain for employers as they look towards the second half of what has proven to be a year of caution. In fact, many expect this mindset to remain as we head closer to the November U.S. presidential election. That said, we continue to see demand in industries like information technology and engineering as unemployment rates remain low and the demand for skilled workers high. With the more than eight million jobs lost since the start of the financial crisis, roughly 3.8 million have been added back. Job creation will continue to be a top priority as we reach the final few quarters of 2012."
The survey also finds that 24 percent of respondents in June say the economy is improving, which is down from a year high in March of 32 percent. Forty-nine percent of respondents say fewer jobs were available during the first half of the year while 19 percent of respondents say more jobs were available.