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Employment Index Falls to Record Low for Fourth Straight Month
Tuesday, February 03, 2009
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The Rasmussen Employment Index, a monthly measure of U.S. worker confidence in the employment market, fell six more points in January to 61.1. That’s the fourth straight month that the Index has fallen to a record low. Since September, workplace confidence has fallen 27 points. Typically, a decline in the Employment Index suggests that the government report on job creation will be weaker than the month before (see history). Consumer confidence is also hovering around record lows. Just 13% of workers report that their companies are hiring while 27% report lay-offs are coming at their workplace. That’s a dramatic change over the past year. In January 2008, 23% of workers said their firms were hiring and just 16% reported lay-offs. The current totals represent the fourth straight month that the number reporting layoffs is higher than the number whose firms are hiring. Prior to the past four months, it had happened only once before. (Want a free daily e-mail update? Sign up now. If it's in the news, it's in our polls). As the nation’s economic woes mount, one-fourth of all American workers (26%) are worried about losing their job in the near future. Thirty-nine percent (39%) of U.S. workers now say their personal finances are good or excellent. That’s unchanged from last month and down four since September. A year ago, 43% were that upbeat. Twenty-two percent (22%) of workers now say their personal finances are getting better while 50% say their finances are getting worse. A year ago, those figures were 32% better and 43% worse. Other data released last week showed that 61% of workers say that when they change jobs it will be their choice. That’s down from 80% a few years ago. The Rasmussen Employment Index is based upon telephone interviews with approximately 9,000 employees each month. Results are released on the Tuesday preceding the government report on employment. Other recent data, including the Discover Small Business Watch, the Discover Consumer Spending Monitor and the Rasmussen Consumer Index have shown similar trends. See the Rasmussen Employment Index summary from December 2008. Rasmussen Reports is an electronic publishing firm specializing in the collection, publication, and distribution of public opinion polling information. The Rasmussen Reports Election Edge™ Premium Service offers the most comprehensive public opinion coverage available anywhere. Scott Rasmussen, president of Rasmussen Reports, has been an independent pollster for more than a decade.
TOP STORIESWhat They Told Us: Reviewing Last Week’s Key Polls Support for Congressional Health Care Proposal Up to 47%, 49% Opposed Voters’ Opinions of Congressional Leaders Remain Steady Voters Continue to See Deficit Reduction as Top Priority To Create Jobs, Voters Say Cut Taxes and Stop Spending Brown Ensnared in His Own Tapegate Trap By Debra J. Saunders Republicans Maintain Steady Lead on Generic Ballot Democrats & Unaffiliateds More Likely To Be Unemployed Than Republicans 42% Rate Geithner’s Performance As Poor Advertisement
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