Coming off of a 15-month high of 108.2 in February, the Hudson Employment IndexSM fell two points in March to 106.2. While none of the factors influencing the Index reported any noteworthy changes, there was a slight easing of optimism virtually across the board. The latest reading remains among the highest on record and considerably stronger than last March, when it was 101.2.

Workers Expect Less Hiring, Firing

The number of workers expecting their firms to hire dropped one point to 32 percent in March after reaching a near record high (33 percent) in February. Nonetheless, confidence regarding hiring expectations was higher in March than in all of 2005. In addition, fewer workers anticipated their firms would resort to layoffs, declining from 17 percent in February to 16 percent.

"While the latest Index registered a slight hiccup in worker confidence in March, the last two months indicate that the job market continues to strengthen, particularly compared to last year," said Steve Wolfe, executive vice president, Hudson, North America. "Leading indicators are pointing in multiple directions, but the work force is holding onto a general sense of financial well-being and job satisfaction."

What a Difference a Year Makes

While 46 percent rated their finances as excellent or good this March, only 43 percent made that claim one year ago. There was also a one-point year- over-year drop to 15 percent in the number of workers who described their financial situations as poor. Additionally, the latest Index found three- quarters of employees were happy with their jobs, compared to 73 percent who made that statement in March 2005.

Michigan Worker Sentiment Reflects Struggling Auto Industry

As anticipated, job security concerns among Michigan workers were at a record high (29 percent) for the past two months. The number of employees expecting their company to lay off staff is nine points higher in Michigan than reported nationwide (25 percent versus 16 percent).

Hudson, one of the world’s leading professional staffing, outsourcing and human capital solutions providers, publishes the Hudson Employment Index, a monthly measure of U.S. worker confidence in the employment market. Results are not seasonally adjusted. Next month’s Hudson Employment Index will be released on April 5.

The Hudson Employment Index
The Hudson Employment Index (Hudson-Index.com) is based on monthly telephone surveys with approximately 9,000 U.S. workers. The Index tracks aggregate employment trends regarding career opportunities, hiring intentions, job satisfaction and retention. The data is compiled each month by Rasmussen Reports, LLC, an independent research firm (http://www.rasmussenreports.com/).

Survey results are segmented by 11 cities: Atlanta, Boston, Chicago, Dallas, Los Angeles, Minneapolis-St. Paul, New York, Philadelphia, San Francisco, Tampa, and Washington, D.C. The Index surveys five occupational sectors: accounting and finance, health care, information technology, manufacturing and legal. The Hudson Employment Index also measures employee confidence by age, gender, race and compensation.

Data reported in this release is based on a national telephone survey of 9,536 working Americans during the month of February. The margin of sampling error for a survey based on this number of interviews is approximately +/-1 percent with a 95 percent level of confidence. The data is not seasonally adjusted. It will be reviewed at year-end to determine if seasonal adjustments are appropriate. The Hudson Employment Index is a service mark owned by Hudson Highland Group, Inc.

The Hudson Employment Index measures the U.S. workforce's confidence in the employment market. Based upon monthly telephone surveys with approximately 9,000 U.S. workers, 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 (http://rasmussenreports.com/).