The index, which measures five occupational sectors in 11 cities*, recorded its largest one-month drop in August, falling 6.6 points to 99.2. The latest reading is 3.7 points lower than last August's index.

Accounting and finance workers forecasting layoffs at their companies hit 14 percent in August. This figure was 13 percent the previous month. There was also an increase in the number of employed individuals concerned about losing their job, from 15 percent in July to 17 percent in August. But slightly more accounting and finance workers said they are happy with their job -- up one point from 73 percent in July to 74 percent in August.

*The Hudson Employment Index is based on monthly telephone surveys with approximately 9,000 U.S. workers.  Results are not seasonally adjusted. Survey results are segmented by 11 cities: Atlanta, Boston, Chicago, Dallas, Los Angeles, Minneapolis-St. Paul, New York, Philadelphia, San Francisco, Tampa, and Washington, D.C.  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.