The overall confidence of manufacturing employees hit a five-year high, jumping to 50.9 for an increase of 3.9 points from last quarter's 47, according to the Randstad Manufacturing Employee Confidence Index.
"Manufacturing is a vital industry to economic recovery and an indicator of the overall health of the economy," says Phyllis Finley, executive vice president at Randstad US. "Our report shows one of the only increases seen this quarter when compared to others that were surveyed in addition to the overall Index hitting a high for the first time in five years. Despite the little change in job creation seen within the manufacturing industry since April, we remain encouraged to see the rise in worker confidence despite the tepid pace of job creation."
The survey finds that 22 percent of respondents say the economy is improving, marking a gain of eight percentage points from the last quarter, while 37 percent of respondent say the economy is weakening, a drop from 41 percent in the last quarter. Fifty-five percent of respondents say fewer jobs are open, up from 53 percent, and 13 percent of respondents say more positions are available.
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Another 48 percent of respondents confidently report that they could find other jobs, representing an increase of 13 percentage points, but 31 percent of respondents say they are not confident that they could find employment. Meanwhile, 39 percent of respondents say there's a good chance that they will look for new employment in the next year, an increase from 27 percent, and 64 percent of respondents say they are confident regarding the future of their current employers, an uptick from 56 percent.
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