Accountants Most Optimistic in Nationwide Index

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After declining in May, U.S. worker confidence in the employment market held steady in June, as the Hudson Employment Index shifted up 0.1 points to 102.4. For accounting and finance workers, the current index increased by 2.8 points to 110. Other industries in the survey include Healthcare (103.9),
/ l) w, f9 y' `IT (108), Legal (109.9), Manufacturing (86.4) and Other Services (98.9).

Confidence among all managers, including those in the private sector, steadily declined during the last two months. Similar to reports made by the general workforce, finances have played a significant role while hiring expectations have not shifted significantly.

/ H" y# Q; }4 S+ L! JWhile confidence among most demographics held steady or fell in June, workers at companies with more than 500 employees were significantly more optimistic this month than in May. Improved perceptions of personal finances, heightened job security and increased job satisfaction all contributed to the rise in confidence for this group.

! Z) ~8 S0 n, o3 p8 H"Larger organizations are less likely to be affected by the current softening in the economy," said Steve Wolfe, executive vice president, Hudson, North America. "These employers can leverage their resources to financially help their employees by offering perks such as higher mileage reimbursement, flexible work arrangements and carpools."

& m$ E" N. L0 X6 D; n! fAfter a cautious start to the year, worker confidence was elevated in February, March and April as record high numbers of employees forecast that their companies would be hiring. However, financial strains have dampened optimism in the last couple months and the number of workers expecting their organization to hire has leveled off.

"While the market is a bit sluggish due to seasonal factors at the moment, employers will most likely continue hiring at a modest pace for the remainder of the year," said Wolfe. "However, whether or not hiring can bolster the impact of rising interest rates and elevated gas prices is to be seen."