The Hudson Employment Index (SM) for New York City held steady in April, slipping just .3 points from its record high to 98.7. The latest monthly measure of worker confidence for the Big Apple is about nine points higher than last April’s 89.6. The composite Index, which is based on responses from approximately 9,000 workers nationwide, fell 1.5 points in April to 107.5.
After a substantial jump in March, the Hudson Employment Index (SM) for San Francisco recorded a minimal gain of .8 points to 107.3 in April. Improved financial sentiments were offset by less expected hiring and more expected layoffs. The city’s latest measure of worker confidence is stronger than last April’s 105.8. The composite Index, based on responses from approximately 9,000 workers nationwide, fell 1.5 points to 107.5 in April.
Worker confidence in Minneapolis-St. Paul cooled from a record high in April, as the Hudson Employment Index (SM) for the Twin Cities fell 7.2 points to 106.9. All factors contributing to the measure of worker confidence declined; however the latest reading is well above last Aprils’ 98.9.
Worker confidence in Philadelphia continued climbing in April, as the city’s Hudson Employment Index (SM) jumped 9.9 points to 108.6. This marks the city’s sixth consecutive month of improved employee sentiment. Greater hiring expectations coupled with improved perceptions of finances triggered the latest rise. Philadelphia’s most recent Index is well above last April’s reading of 102.6. In sharp contrast, the composite Index, which is based on responses from approximately 9,000 workers nationwide, fell 1.5 points in April to 107.5.
Florida workers felt less confident in April, as the state’s Hudson Employment Index (SM) fell one point to 120.1.
Ohio worker confidence fell in April, as the state’s Hudson Employment Index (SM) slid 6.4 points to 99.1. Almost all factors contributing to the Index recorded negative movement. The state’s latest Index is also lower than last April, when it was 100.4. The national Index, based on responses from approximately 9,000 workers across the country, fell 1.5 points to 107.5 in April.
Worker confidence in California decreased in April as the state’s Hudson Employment Index (SM) fell 2.7 points to 110.2. An increase in expected layoffs and less job satisfaction drove the decline, but were offset by greater hiring expectations. California’s latest Index is also below last April’s reading of 115.1. The national Index, based on responses from approximately 9,000 workers across the country, fell 1.5 points to 107.5 in April.
Worker confidence fell in Washington, DC, as the city’s Hudson Employment Index (SM) descended 1.3 points to 108.1 in April. A decrease in hiring expectations and concern over job loss contributed to the fall. The city’s latest measure of worker confidence is down substantially from last April, when DC’s Index registered 118.4. The composite Index, based on responses from approximately 9,000 workers nationwide, fell 1.5 points to 107.5 in April.
Confidence among manufacturing workers dropped in April as the sector’s Hudson Employment Index (SM) fell 4.4 points to 94.4. Increased worry over job loss and decreased job satisfaction drove the decline. The latest reading is virtually unchanged from last April’s reading of 95.1. The national Index, based on responses from approximately 9,000 workers across all sectors, fell 1.5 points to 107.5 in April.
Rising for the third consecutive month, the Hudson Employment Index (SM) for Dallas climbed 5.9 points to a record high of 123.9 in April. The city’s latest measure of worker confidence is dramatically higher than one year ago, when it was just 102.1. In contrast, the composite Index, which is based on responses from approximately 9,000 workers nationwide, fell 1.5 points in April to 107.5.
Boston workers’ confidence took another hit this April as the city’s Hudson Employment Index (SM) dropped 3.1 points to 94.2. Heightened financial concerns contributed to the second consecutive decline in the monthly measure of worker confidence. Boston’s latest Index is nearly 10 points shy of its April 2006 reading of 103.7. The composite Index, which is based on responses from approximately 9,000 workers nationwide, also fell 1.5 points in April to 107.5.
Confidence among workers in the legal sector jumped in April as the sector’s Hudson Employment Index (SM) increased 9.9 points to 123.0.
Confidence among IT professionals skyrocketed in April, as the group’s Hudson Employment Index (SM) jumped 12.9 points to 122.6. An increase in expected hiring, decrease in expected layoffs and greater job satisfaction drove the rise. The latest reading is also up 12.7 points from last April’s reading of 109.9. The national Index, based on responses from approximately 9,000 workers across all sectors, fell 1.5 points to 107.5 in April.
Confidence among Texas workers waned, as the state’s Hudson Employment Index (SM) dropped 5.7 points to 125.6 in April. A decrease in job satisfaction coupled with worsened financial sentiments drove the fall. The latest reading is up from last April’s Index of 119.0. The national Index, based on responses from approximately 9,000 workers across the country, fell 1.5 points to 107.5 in April.
Worker confidence edged lower in April, as the Hudson Employment Index (SM) fell 1.5 points to 107.5. Despite the decline, the April figure is among the highest from the past year. Financial concerns and lower levels of job satisfaction triggered the drop.
Economic confidence among small business owners decreased in April, driven largely by a deteriorating outlook on economic conditions for their businesses, rising insecurity about the U.S. economy and increased cash flow issues, according to surveys conducted for this month’s Discover® Small Business Watch (SM).
Employers seem to appreciate their employees' need for flexibility, as more than three-quarters (78 percent) of the work force rates their employer favorably when it comes to allowing them to take extra time for personal matters.
Americans grew more pessimistic about their personal level of financial security in April, as the COUNTRY Financial Security Index slipped 0.8 points to 69.4, down from 70.2 in February.
Looking at the opposite perspective, 52% believe that tax cuts help the economy while 21% believe that tax cuts hurt. Republicans, by a 68% to 15% margin, believe that tax cuts help the economy. Democrats are more evenly divided—37% of Nancy Pelosi’s party believe that tax cuts help while 28% say they hurt and 19% say they have no impact.
Half (50%) of American adults believe that those who earn twice as much as they do pay less than twice as much in taxes. Just 7% believe that those who earn more pay more than their pro rata share while 19% believe that those who earn twice as much pay twice as much. Twenty-four percent (24%) are not sure.
