Accounting and finance workers' confidence in the employment market rebounded in November after an October dip, according to the Hudson Employment Index.
Following a pattern similar to national results, local optimism about personal finances rose, but so did concerns about job security. Forty-six percent of surveyed workers said that their finances were improving and 19 percent were worried about losing their jobs, compared to 41 and 17 percent last month, respectively. Nationally, confidence held steady as the i ndex slipped just 0.4 points to 100.1. The index for accounting and finance workers' expectations remained significantly higher, at 108.8.
Not only were workers feeling better about their finances, but managers and investors were, too. Overall, expected hiring levels stayed flat, although 21 percent expressed concern about losing their own jobs -- a one-point increase.
"It's a relief to see confidence levels returning to where they were before this summer's devastation, although a year-over-year decline in the i ndex indicates that events have clearly taken their toll on workers' finances and overall confidence," said Steve Wolfe, executive vice president, Hudson, North America, in a statement. "The final weeks of the year tend to be difficult, as companies curtail hiring and employees increase spending, but the situation could be much worse."
The index is compiled each month by an independent research firm and is based upon telephone interviews and survey responses from approximately 9,000 U.S. workers.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access