Employee Confidence Hits New High
By Natalie Wise
Only 15 percent of respondents reported they were worried about being fired within the next six months. This number is a new low since the fourth quarter of 2008, and down 7 percentage points from the second quarter of 2013.
The height of fear came in the first quarter of 2009 on the heels of the recession, with 26 percent being worried about getting laid off themselves and 44 percent worried about coworkers being laid off. Male workers, particularly those ages 35-44, are significantly more worried about being laid off (at 24 percent) than females the same age (at 8 percent).
Employees overall are less concerned about their coworkers getting laid off. Twenty-four percent were concerned about coworkers’ jobs in the third quarter this year, down 6 percentage points since last quarter. This number shows another low since the fourth quarter of 2008.
According to what 51 percent of employees surveyed believe, including those who are self-employed, company outlooks will remain about the same in the coming six months. Forty-one percent believe things will get better in the next six months (down two percent points from the previous quarter), but only 9 percent (down three points from last quarter) believe things will get worse.
With the news that 204,000 jobs were added to the U.S. economy this October, an unexpectedly high number, in addition to this report on employee confidence, we may be seeing a slow but steady improvement in the job market and the housing market.
Joe LaVorgna, chief U.S. economist at Deutsche Bank, seems optimistic too.
“It's amazing how resilient the economy has been in the face of numerous shocks," he said.