Worker confidence among accounting and finance professionals fell in July, as the group's Hudson Employment Index dropped 3.4 points to 106.6. The latest reading is lower than last July, when the index for accounting and finance workers was 110.

The overall index for workers in the industry held steady, inching down half a point, to 101.9. The index measures employee confidence monthly in a survey of approximately 9,000 workers nationwide across all industries.

The index for accounting and finance workers also showed that:

  • The number of workers expecting their companies to hire fell for the third straight month, to 30 percent, the lowest level on record for the sector. The figure was 34 percent a month ago.
  • Only 20 percent of the work force expected their employer to cut staff in the coming months, compared to 24 percent in June.
  • There was a five-point increase, to 22 percent, in the number of workers concerned about job loss.
  • While the number of workers who rated their finances as excellent rose five points to a record high of 25 percent, there was also a three-point drop, to 44 percent, among workers who believed their finances were improving.

Previously on WebCPA: Accounting Holds Steady on 'Prestigious' Job List (Aug. 1, 2006)

Hudson Index: Marks for Job Security Up (July 7, 2006)

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

Don't have an account? Register for Free Unlimited Access