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August 2, 2006
Increased concerns over job security and layoffs pushed worker confidence down in the Philadelphia region last month, according to the Hudson Employment Index released on Wednesday.
The index, which takes career opportunities, hiring intentions, job satisfaction and retention into account, fell three points to 99.3 last month. The reading is more than 10 points lower than it was at the beginning of the year but nine points higher than it was a year ago.
Locally, 16 percent of workers indicated their organizations planned to lay off in the coming months, three points higher than June. Additionally, 18 percent expressed concerns about losing their job, up four points from June. However, job satisfaction continued to rise, with three-quarters of the local workforce reporting they were happy with their current situation, up from 71 percent in June and 67 percent in May.
The Pennsylvania Index fell 1.8 points to 104.1 last month.
The Hudson Index measures the country's work-force confidence monthly using telephone surveys with more than 9,000 workers. The survey is conducted by the Hudson international staffing firm.
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