IT Workers Cast Economic Doubt ... Again

Uncertainty over hiring, finances and job security have added up over the last month.

Reservations about finances, hiring and job security mounted in June, driving IT worker confidence to its lowest point in four months, according to the latest poll on the subject.

Twenty-five percent of IT workers are worried about job security and a mere 52 percent said their finances were in good shape, found the Hudson Employment Index, released July 3. Twenty-three percent were confident in their job security in May and 55 percent approved of their financial situation, the report said.

Fewer IT workers predicted that their companies would be hiring in June, down to 34 percent from 36 percent in May. About the only upbeat news on the tech professional front came from those who anticipated that their companies would be laying off workers in the near future, though that number was down just one point from a month ago to 18 percent.

Hudsons composite worker index, based on responses from approximately 9,000 workers across all sectors, also took a plunge in June. Though at 5.7 points, it was far less severe than the IT indexs eight-point drop.

The composite index slipped due to a combination of less expected hiring and heightened financial and job security concerns. Because of a three-point increase to 41 percent among employees who said their finances were getting worse, June was the first time in 10 months that workers were more pessimistic than optimistic about their finances.

"It appears worker sentiment caved under the pressure of the weak housing market, high energy prices and inconsistent job growth," said Robert Morgan, president of Hudson Talent Solutions.

"Add in the slow summer hiring season and low unemployment was just no longer able to bolster worker confidence."

Confidence among managers, especially those in the private sector as well as among employees with salaries of $75,000 or more, sunk in June as hiring expectations diminished.


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