New York, NY, November 1, 2006--Confidence among workers rose in October, recovering from a 10-month low in September, a survey released on Wednesday showed.
The Hudson Employment Index, a measure of U.S. workforce confidence in the labor market, rose to 101.4 in October from 100.5 in September, recruiting firm Hudson said in a statement.
The results were based on a national telephone survey of 9,159 working Americans during October. September's reading was the lowest since November 2005.
"Improved sentiment around personal finances and job security triggered the uptick. However, a decrease in the number of employees expecting hiring tempered worker confidence," Hudson said in a statement.
The survey showed the number of workers expecting their financial situation to improve in October topped those describing a worsening situation for the first time since April, the survey showed.
Forty-two percent of workers made a positive prediction regarding their finances, compared with 38 percent who said their situation was getting worse. Those figures were 40 percent and 40.1 percent respectively in September, Hudson said.
The data in the survey is compiled each month by Rasmussen Reports, LLC, an independent research firm.
The employment index comes before the government's monthly labor market report on Friday, which is expected to show the U.S. economy added 125,000 new jobs in October, up from 51,000 in September.
