SOURCE: Hudson

December 05, 2007 06:00 ET

Hudson Employment Index Sinks to Record Low

Bleak Hiring Expectations and Financial Outlook Contribute to Drop in Worker Sentiment

NEW YORK, NY--(Marketwire - December 5, 2007) - The Hudson Employment Index(SM) fell 8.9 points in November to a record low of 91.9. Growing concerns about hiring and signs of personal financial strain triggered the decline. In stark contrast, the Index registered 105.3 one year ago, more than 13 points above the current reading.

Hudson (NASDAQ: HHGP), a leading provider of permanent recruitment, contract professionals and talent management services worldwide, publishes the Hudson Employment Index, a monthly measure of U.S. worker confidence in the employment market.

The number of workers anticipating hiring at their companies fell three points to 25 percent in November. This marks the fewest workers to expect job growth in the history of the Hudson Employment Index. There was also a two-point jump to 17 percent among people expecting their employer to cut staff, the highest level for this response in nearly two years.

"Simply put, U.S. workers are worried that job growth is going to slow significantly in the coming months," said Robert Morgan, co-president of Recruitment and Talent Management, Hudson. "They remain concerned about finance-related issues, but that apprehension has boiled over so they are now seeing a more widespread problem."

Consistent with recent months, the work force continues to be troubled by the state of their finances, as just 34 percent claimed theirs were improving, down five points from October. In addition, 43 percent rated their financial situation favorably, compared to 47 percent in October. There was also a two-point increase to 17 percent in the number of workers who described their finances as "poor."

                     All Workers   All Workers   All Workers   All Managers
                    November 2007  October 2007 November 2006  October 2007

Employment Index        91.9           100.8        105.3          101.9

Expected Hiring          25%            28%          30%            26%

Finances Improving       34%            39%          42%            40%

Worried About
Job Security             19%            18%          17%            18%

*A more detailed data report is available at

Results are not seasonally adjusted. Next month's Hudson Employment Index will be released on January 2.

Please note that starting with the January data, the Hudson Employment Index is moving to a Tuesday release schedule. In 2008, data will become available three days prior to the Bureau of Labor Statistics' Employment Situation News Release.

Hudson also publishes the Hudson Report, a quarterly look at employers' expectations to increase or decrease staff levels in the Asia-Pacific region. Contact Hudson for additional information.

The Hudson Employment Index

The Hudson Employment Index ( is based on monthly telephone surveys with approximately 9,000 U.S. workers. The Index tracks aggregate employment trends regarding career opportunities, hiring intentions, job satisfaction and retention. The data is compiled each month by Rasmussen Reports, LLC, an independent research firm (

Survey results are segmented by 11 cities: Atlanta, Boston, Chicago, Dallas-Ft. Worth, Los Angeles, Minneapolis-St. Paul, New York, Philadelphia, San Francisco, Tampa-St. Petersburg, and Washington, D.C. The Index surveys five occupational sectors: accounting and finance, health care, information technology, manufacturing and legal. The Hudson Employment Index also measures employee confidence by age, gender, race and compensation.

Data reported in this release is based on a national telephone survey of 9,096 working Americans during the month of November. The margin of sampling error for a survey based on this number of interviews is approximately +/-1 percent with a 95 percent level of confidence. The data is not seasonally adjusted. It will be reviewed at year-end to determine if seasonal adjustments are appropriate. The Hudson Employment Index is a service mark owned by Hudson Highland Group, Inc.


Hudson (NASDAQ: HHGP) is a leading provider of permanent recruitment, contract professionals and talent management services worldwide. From single placements to total outsourced solutions, Hudson helps clients achieve greater organizational performance by assessing, recruiting, developing and engaging the best and brightest people for their businesses. The company employs more than 3,600 professionals serving clients and candidates in more than 20 countries. More information is available at

SPECIAL NOTE: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the company's strategic direction, prospects and future results. Certain factors including factors outside of our control, may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, risks associated with acquisitions, competition, seasonality and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.

Contact Information

  • Contact:
    Sarah Kafenstok
    (312) 795-4202
    Email Contact

    Anshula Ahluwalia
    Ogilvy Public Relations for Hudson
    (312) 397-6074
    Email Contact