American Workersí Confidence In Job Market At Highest Level In Two Years

Americans feel more confident about the job market than they have in two years, with three-quarters saying there is little or no likelihood that they will lose their jobs in the coming year, according to a survey of more than 1,000 fulltime workers by Right Management Consultants.

Despite their relative security about their own jobs, Americans still believe the overall job market remains tight: Nearly 80 percent said it would be somewhat or very difficult for an out-of-work employee to find a comparably paying job. Half of that group ñ or 41 percent of all respondents ñ said it would be very difficult to land a new job at similar pay.

For the first time since Right launched the Career Confidence Index two years ago, the percentage of American workers predicting a rise in the unemployment rate dropped below 70 percent, to 65 percent.

In the two years since we have been tracking employee confidence levels, this is the most positive American workers have felt, said Doug Matthews, Executive Vice President and head of Career Transition Services for Right Management Consultants. The most noticeable shift this period has been a drop in the percentage of American workers who believe that unemployment will rise.

When asked how likely it was that they would advance at their current companies, workers were almost evenly split. Nearly 50 percent said it was very or somewhat possible, while 49 percent said it was not very possible or not possible at all. Among that latter group, 29.1 percent said there was no possibility of advancement.

Younger workers, and black and Hispanic workers, were more likely to report feeling optimistic about moving up at their present companies. Sixty-seven percent of 18 ñ 34-year olds said job advancement was possible. Sixty-one percent of blacks and 62 percent of Hispanics surveyed said moving up in their jobs was a possibility.

Nearly half of American workers do not anticipate advancing with their current employers ñ and of those, nearly 30 percent say there is no possibility of moving up at their companies, noted Matthews. That may indicate a disengaged workforce, or employees who are looking to leave their current jobs.

As the economy improves, more workers will begin looking to change jobs, added Matthews. Wise managers know that they need to identify and develop the talent they want in place for the future, since those who feel most disenfranchised will be the most likely to leave.