Finance Workers See Big Confidence Spike

January 31, 2007 (PLANSPONSOR.com) - Confidence among accounting and finance professionals jumped in January, as the group's Hudson Employment Index spiked 14.5 points to 120.5, according to a news release.

Improved sentiments regarding personal finances, job satisfaction and a decrease in expected layoffs spurred this increase, according to Hudson. The latest reading for the group is almost eight points higher than last January’s 112.6.

The Hudson Employment Index for accounting and finance workers showed that t here was a four-point rise to 57% in the number of workers rating their finances as excellent or good. Additionally, the percentage of workers who reported their finances were getting better jumped 12 points to 56% from the previous month.

Only 13% of workers reported their company would be laying off staff, a six-point drop from January (19%). The number of workers who are happy at work jumped from 72% in December to 78% in January.

Meanwhile, elsewhere in the index, confidence among IT professionals decreased in January, as the group’s reading fell 5.2 points to 104.6. A drop in satisfaction with finances coupled with a decline in hiring expectations and increased worry about job loss helped produce the decrease. The latest figure is down more than four-points from last January’s 109.

Looking at other sectors, confidence among manufacturing workers dropped in January after being on the rise for three consecutive months. The sector’s index reading slid 7.3 points to 90.1. Weakened financial sentiments coupled with a decrease in expected hiring and an increase in expected layoffs contributed to the figure. The latest reading is in line with last January’s reading of 90.3.

The overall i ndex, based on responses from approximately 9,000 workers across all sectors, climbed 1.5 points to 104.2.

More information on the Hudson Employment Index is at www.hudson-index.com.

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