IT Worker Confidence Grows Amid Weakening Economic Outlook

 
 
By Deborah Rothberg  |  Posted 2006-10-06
 
 
 

Amid widespread reports of slowed job growth and the looming possibility of an unemployment rate about to swell, IT worker confidence rebounded in September, according to the New York-based Hudson Employment Indexs report, released Oct. 4.

Worker confidence among IT professionals nearly recovered in September, according to the release, as Hudsons IT index increased 6.2 points to 109.3, over September 2005.

Fewer IT workers expected their companies to make cuts in September compared with August of this year, down to 18 percent from 24 percent.

The number of IT professionals concerned about their job security in September was down to 23 percent from 28 percent the month prior; however, the number of technology workers who expressed happiness with their jobs fell from 78 percent to 75 percent in September.

Up from 44 percent in August, more than half of responding IT professionals (51 percent) stated that their finances were improving, with 16 percent (compared to 14 percent in August) describing their finances as excellent.

Yet, the composite Hudson Index, based on responses from workers across all industries, fell 2.4 points to 100.5 in September, its lowest reading in 2006.

Read more here about Septembers job cuts.

The percentage of workers expecting their employers to add staff and the percent who expressed happiness with their jobs also fell.

The economy as a whole showed disappointing job growth in September, adding only 51,000 new jobs, according to the Labor Department.

Compared with the 150,000 new jobs economists say are needed to keep up with monthly population growth, the growth rate fell far short of forecasts.

The Hudson report is not the only recent one that has shown upbeat news for IT workers recently.

Citing business growth, 13 percent of CIOs intend to increase their headcount in Q4, according to a survey released Sept. 20 by Robert Half Technology.

Check out eWEEK.coms for the latest news, reviews and analysis on IT management from CIOInsight.com.

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