SOURCE: Hudson

October 03, 2007 06:00 ET

Worker Sentiment Sinks Further in September

Record Low Hiring Expectations Drive Decline in the Hudson Employment Index(SM)

NEW YORK, NY--(Marketwire - October 3, 2007) - On the heels of August's large drop, the Hudson Employment Index(SM) fell another 2.1 points to 97.1 in September. A decline in hiring expectations reduced the Index to one of the lowest levels on record since September 2005, when the measure sank to its historic low of 96.8. The Index registered 100.5 last September.

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.

Expectation of Slower Hiring to Come

The number of workers forecasting an increase in headcount at their companies fell two points in September to 28 percent, which is the fewest on record since the first Index survey in December 2003. At the same time, there was a two-point rise to 50 percent in the number of workers who said their employer had no plans to change the size of their work force in the coming months.

"On the one hand, the Federal Reserve lowered interest rates by half of a point this month, which has helped to ease credit fears for now," said Robert Morgan, president of Talent Solutions, Hudson. "However, many companies seem to be putting their hiring plans on hold until they know how the remaining months of the year are going to fare."

Two Sides to the Finance Story

For the second consecutive month, a decline occurred in the number of employees who indicated that their finances were improving. That figure slipped just one point to 36 percent in September, but it is down seven points since July. Conversely, fewer workers said their financial situations were getting worse in September (39 percent) than in August (40 percent).

                     All Workers   All Workers   All Workers   All Managers
                      September      August       September      September
                        2007          2007          2006           2007
 Employment Index       97.1          99.2         100.5          106.2
Finances Improving        36%           37%           40%            42%
Expected Layoffs          16%           16%           15%            16%
Worried About Job
 Security                 18%           18%           19%            17%
     *A more detailed data report is available at

Results are not seasonally adjusted. Next month's Hudson Employment Index will be released on October 31.

Hudson also published 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, Los Angeles, Minneapolis-St. Paul, New York, Philadelphia, San Francisco, Tampa, 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 9,087 working Americans during the month of September. 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
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    Anshula Ahluwalia
    Ogilvy Public Relations for Hudson
    (312) 397-6074
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