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Accounting Worker Confidence Recovers


July 7, 2005 (SmartPros) The accounting and finance index released by Hudson this month reached its highest confidence level of 2005, at 113.2, even though more workers reported that their organizations will be laying off.



Confidence was up primarily due to improved perceptions of financial situations -- 61 percent rated their personal finances favorably. In addition, over half (51 percent) of those surveyed stated their finances are getting better.

The Accounting & Finance Index is viewable at http://www.hudson-index.com/node.asp?SID=4401

The overall Hudson Employment Index found that confidence among U.S. workers rebounded in June from 99.9 to 103.0 -- 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.

Workers 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.

2005 SmartPros Ltd. All Rights Reserved.

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