Worker confidence rises

Confidence among U.S. workers rebounded in June as the Hudson Employment Index gained three points, from 99.9 to 103.0. This is the highest reading since January's 107.0 Index, but well below the level of 107.5 during the same period one year ago. The increase was driven by improved perceptions of personal finances and a decline in the number of workers concerned about job loss.

After four months of steady decline, 42 percent of workers said their finances are getting better, up from 39 percent a month ago. Conversely, the percent reporting that their situation was getting worse fell three points to 39 percent. Additionally, 45 percent now rate their personal finances as good or excellent, up from 43 percent the previous month.

Workers also expressed an improved sense of confidence in their companies' hiring plans. The number who said their companies are hiring held steady at 31 percent, but the number reporting that their organizations are laying workers off fell from 19 percent to 17 percent. Also, fewer U.S. workers are concerned about personal job loss, as that figure dropped one point to 21 percent.

"The rebound in worker confidence we saw this month has more to do with workers' self-interests than with companies' overall hiring plans," said Jeff Anderson, senior vice president, Hudson, North America. "Even as employees are feeling more secure in their jobs and finances, employers are still facing the prospect of the summer lull in business activity."

Managers, who typically have been more optimistic regarding hiring plans than the national average, fell more in line with the overall workforce this month. In June, the number of managers expecting their companies to hire declined to 32 percent, compared to 35 percent in May.

Similar to the overall results, confidence among IT workers recovered in June after plummeting in May. Optimism also rose among the other occupational sector polls for healthcare, accounting and finance, and manufacturing.