Economic confidence among small business owners fell to its lowest point in a year in September marked mainly by increasing cash flow issues, according to the Discover (R) Small Business Watch(SM).
In “The Age of Turbulence: Adventures in a New World,” Alan Greenspan criticizes President Bush and Congressional Republicans for spending too much and running up large federal deficits.
Worker confidence stumbled in California in August, as the state’s Hudson Employment Index SM fell 8.8 points to 100.3. This is the lowest reading since September 2005. Concern around finances and hiring, as well as lower levels of job satisfaction, triggered the drop. California’s latest monthly measure of worker confidence is more than ten points lower than last August’s reading. The national Index, based on responses from approximately 9,000 workers across the country, also plunged 6.6 points to 99.2.
Worker sentiment has resembled a rollercoaster ride for finance and accounting workers so far this year. After rebounding in July, confidence dropped seven points for this group in August, with their Hudson Employment Index (SM) registering at 113.1. Greater financial concerns drove the decline. The latest reading for this group is virtually the same as last August’s reading of 112.5. The composite Index, based on responses from approximately 9,000 workers across all sectors, plunged 6.6 points in August to 99.2.
Ohio workers were more optimistic for the second consecutive month in August, as the state’s Hudson Employment Index (SM) climbed 2.8 points to 109.6. This is the highest reading for the state in nearly three years. Improved perceptions of finances and less expected job cuts triggered the improvement. The state’s latest Index is more than ten points above last August’s 98.7. The national Index, based on responses from approximately 9,000 workers across the country, plunged 6.6 points to 99.2.
Worker confidence in Pennsylvania declined for the second month in a row in August, as the state’s Hudson Employment Index (SM) slipped 2.2 points to 102. Concerns around finances and job cuts triggered the decline. The state’s latest Index is five points above last August’s reading of 97. The national Index, based on responses from approximately 9,000 workers across the country, plunged 6.6 points to 99.2.
Workers in Texas were slightly less optimistic in August, as the state’s Hudson Employment Index SM slipped 1.4 points to 124.4. Fears around personal finances triggered the decrease. The latest reading is shy of last August’s 126.5. The national Index, based on responses from approximately 9,000 workers across the country, plunged 6.6 points to 99.2.
Dallas worker confidence took a nosedive, as the Hudson Employment Index (SM) fell 11.6 points to 109.1 in August. The city’s latest Index is just over a point shy of last August’s 110.3. The national Index, based on responses from approximately 9,000 workers, plunged 6.6 points to 99.2.
New York City worker confidence rose for the second consecutive month in August, as the city’s Hudson Employment Index (SM) climbed 4.3 points to 97. More expected hiring and improved perceptions of finances contributed to the increase. The city’s latest Index is stronger than last August’s reading of 90.9. The national Index, based on responses from approximately 9,000 workers, plunged 6.6 points to 99.2.
Worker confidence fell in San Francisco for the third month in a row in August, as the city’s Hudson Employment Index (SM) plunged 10.8 points to 95.7. Concerns relating to personal finances and hiring plans caused the decline. San Francisco’s latest Index is lower than last August’s reading of 99.2. The composite Index, which is based on responses from approximately 9,000 workers nationwide, also tumbled 6.6 points in August to 99.2.
Ending a four-month skid, worker confidence rose in Florida in August. The state’s Hudson Employment Index (SM) rose 1.7 points to 94.3 while almost all other geographies reported declines. Florida’s latest measure of worker confidence is dramatically lower than last August, when it registered 122.3. The national Index, based on responses from approximately 9,000 workers across the country, plunged 6.6 points to 99.2.
The Hudson Employment Index (SM) for Los Angeles fell 3.2 points to 96.4 in August. Greater dissatisfaction with finances and fewer hiring expectations were offset by less concern over job loss. The latest reading is below last August’s reading of 102.2. The composite Index, which is based on responses from approximately 9,000 workers nationwide, plunged 6.6 points to 99.2.
After two months of steady increase, the Hudson Employment Index (SM) for Minneapolis-St. Paul fell 6.9 points to 102.6 in August. The Twin Cities’ reading registered 92.1 last August, more than 10 points below the latest Index. The national Index, based on responses from approximately 9,000 workers nationwide, plunged 6.6 points to 99.2.
Worker confidence fell for the fourth consecutive month in Tampa, as the city’s Hudson Employment Index (SM) stumbled 3.4 more points to 88.2 in August. This latest drop brings Tampa’s Index more than 30 points from where it was in January. The difference is even more dramatic looking back to August 2006, when the city’s reading was 121. The national Index, based on responses from approximately 9,000 workers nationwide, tumbled 6.6 points in August to 99.2.
Worker confidence improved in DC in August, as the city’s Hudson Employment IndexSM climbed 4.6 points to 107.1. Optimism around finances and job security contributed to the increase, but were offset by less expected hiring. The capital’s latest reading is significantly lower than last August, when it registered 122.1. The national Index, based on responses from approximately 9,000 workers nationwide, tumbled 6.6 points in August to 99.2.
After rebounding in July, IT worker confidence dropped again in August. This group’s Hudson Employment Index (SM) fell 7.6 points to 105.1. Worsened financial sentiments drove the decrease, but were offset by an increase in expected hiring. The latest reading, however, is two points higher than the reading a year ago, when the Index for IT workers was 103.1. The composite Index, based on responses from approximately 9,000 workers across all sectors, plunged 6.6 points in August to 99.2.
The Hudson Employment Index (SM) for Atlanta fell 7.7 points to 102.4 in August. Less expected hiring drove the decline. Atlanta’s latest reading is dramatically lower than last August’s reading of 121.1. The national Index, based on responses from approximately 9,000 workers, plunged 6.6 points to 99.2.
Worker confidence fell for the fourth consecutive month in Philadelphia, as the city’s Hudson Employment Index (SM) edged down 1.6 points to 92.5. The city’s reading has dropped more than 16 points since April. Nevertheless, Philadelphia’s latest Index is well above last August’s 87.5. The national Index based on responses from approximately 9,000 workers nationwide, tumbled 6.6 points in August to 99.2.
While African-Americans workers were more confident in August, confidence among Hispanic workers took a plunge. The monthly Hudson Employment Index (SM) for African-Americans rose 2.7 points to register 93.2, while the reading for Hispanics plummeted 10.3 points to 93.0. The composite Index, based on responses from approximately 9,000 workers across all races and ethnicities, also took a 6.6 point nosedive to 99.2.
Despite much turmoil witnessed in the current economy, workers in the legal sector remained confident in August. Their Hudson Employment Index (SM) inched up .8 points to 118.6. Less concern over layoffs and increased job security was offset by a drop in job satisfaction. The group’s latest reading is also higher than last August’s Index of 114.2. The composite Index, based on responses from approximately 9,000 workers across all sectors, plunged 6.6 points in August to 99.2.
