According to the announcement, the number of employees who rated their personal finances as poor dropped six points to 8%, the lowest reading for this response in nearly a year. The composite Index decreased two points to 106.2, however, it is one of the strongest readings on record.
The news release said that the number of workers expecting their firms to bring on new workers dropped one point to 32% in March after reaching a near record high (33%) in February. Nonetheless, confidence regarding hiring expectations was higher in March than in all of 2005. In addition, fewer workers predicted their firms would lay off people, declining from 17% in February to 16%.
While just under half (46%) rated their finances as excellent or good this March, only 43% made that claim one year ago. There was also a one-point year-over-year drop to 15% in the number of workers who described their financial situations as poor. Additionally, the latest Index found three-quarters of employees were happy with their jobs, compared to 73% who made that statement a year ago.
The Hudson Employment Index is based on monthly telephone surveys with approximately 9,000 US workers. It tracks aggregate employment trends regarding career opportunities, hiring intentions, job satisfaction and retention. The data is compiled each month by Rasmussen Reports, LLC, an independent research firm.
Survey results are segmented by 11 cities: Atlanta, Boston, Chicago, Dallas, Los Angeles, Minneapolis-St. Paul, New York, Philadelphia, San Francisco, Tampa, and Washington, DC. The Index surveys five occupational sectors: accounting and finance, health care, information technology, manufacturing and legal. The Hudson Employment Index also measures employee confidence by age, gender, race and compensation.
More information is at Hudson-Index.com .