Worker confidence edged lower in April, as the Hudson Employment Index (SM) fell 1.5 points to 107.5. Despite the decline, the April figure is among the highest from the past year. Financial concerns and lower levels of job satisfaction triggered the drop.
Economic confidence among small business owners decreased in April, driven largely by a deteriorating outlook on economic conditions for their businesses, rising insecurity about the U.S. economy and increased cash flow issues, according to surveys conducted for this month’s Discover® Small Business Watch (SM).
Employers seem to appreciate their employees' need for flexibility, as more than three-quarters (78 percent) of the work force rates their employer favorably when it comes to allowing them to take extra time for personal matters.
Americans grew more pessimistic about their personal level of financial security in April, as the COUNTRY Financial Security Index slipped 0.8 points to 69.4, down from 70.2 in February.
Looking at the opposite perspective, 52% believe that tax cuts help the economy while 21% believe that tax cuts hurt. Republicans, by a 68% to 15% margin, believe that tax cuts help the economy. Democrats are more evenly divided—37% of Nancy Pelosi’s party believe that tax cuts help while 28% say they hurt and 19% say they have no impact.
Half (50%) of American adults believe that those who earn twice as much as they do pay less than twice as much in taxes. Just 7% believe that those who earn more pay more than their pro rata share while 19% believe that those who earn twice as much pay twice as much. Twenty-four percent (24%) are not sure.
According to the Rasmussen Consumer Index for the region released today by the Chicagoland Chamber of Commerce, consumer economic confidence dropped more than seven points to 114.1 last month, from 121.2 at the end of last year. The decline was fueled by an 8 percent increase in the number of people who think the US economy is getting worse.
After cooling in February, worker confidence among accounting and finance workers jumped in March, as the group’s Hudson Employment Index (SM) rose 8.1 points to 121.6. Increased job satisfaction and a decrease in expected layoffs drove the rise.
Worker confidence remained virtually unchanged for African-American workers, while Hispanic workers’ confidence fell in March. The monthly Hudson Employment Index (SM) for African-Americans inched up 0.5 points to 94.5.
The Hudson Employment Index (SM) for healthcare workers remained virtually unchanged from February’s reading of 110.8, coming in at 111.1. Improved job satisfaction was offset by more pessimistic sentiments around personal finances.
Confidence among IT professionals decreased in March, as the group’s Hudson Employment Index (SM) fell 2.6 points to 109.7. Less expected hiring and a decrease in job satisfaction drove the decline. The latest reading is also down 5.3 points from last March’s reading of 115.0.
Confidence among workers in the legal sector dropped in March as the sector’s Hudson Employment Index (SM) slid 6.8 points to 113.1. The decline was primarily a result of being less satisfied with their job and worsened sentiments about their financial situation.
Confidence among manufacturing workers rose for the second consecutive month, as the sector’s Hudson Employment Index (SM) increased 4.3 points in March to 98.8. Increased job satisfaction coupled with fewer job loss concerns drove the uptick.
The Hudson Employment Index (SM) for Atlanta workers held strong for the second consecutive month in March, inching up 0.6 points to 119.7. The latest Index is more than five points stronger than last March’s reading of 114.6.
After spiking in February, the Hudson Employment Index (SM) for Boston workers fell 8.4 points to 97.3. Concern regarding finances largely triggered the drop in sentiment. Boston’s latest measure of worker confidence falls well below last March’s reading of 101.4.
Confidence among Chicago workers improved dramatically in March, as the city’s Hudson Employment Index (SM) jumped 8.1 points to 106.8. This marks the city’s strongest reading on record. Hiring expectations and improved sentiments regarding finances contributed to the increase in the monthly measure of worker confidence.
Worker confidence rose in Dallas, as the city’s Hudson Employment Index (SM) climbed 3.1 points to 118.0, just 1.6 points lower than its record high in February 2006. This is the second highest recording for Dallas.
After hitting its highest level on record in February, Los Angeles worker confidence slipped in March, as the city’s Hudson Employment Index (SM) fell 1.3 pints to 111.7. However, the latest reading is significantly higher than last March’s Index of 104.7.
After hitting a record high in February, the Hudson Employment Index (SM) for Minneapolis-St. Paul continued to increase in March, edging up another 1.1 points to 114.1. Improved perceptions of workers’ finances triggered the uptick.
The Hudson Employment Index (SM) for New York City jumped 9.7 points in March to 99, its highest reading on record. Improvements in all factors contributed to the strong level of confidence. The current reading is 11.8 points higher than last March’s reading of 87.2.
