SOURCE: Hudson

December 20, 2006 06:00 ET

U.S. Workers Expect Strong Job Market in 2007

NEW YORK, NY -- (MARKET WIRE) -- December 20, 2006 -- U.S. workers are quite optimistic about their job prospects and the employment market for 2007, as nearly eight in ten (78 percent) expect the situation to be as good as, if not better than, this year. Attesting to their faith in the market, 39 percent of workers already indicate that it is very or somewhat likely that they will be actively seeking a new job in 2007. This is according to a new survey by Hudson.

To help bring those job prospects to fruition, 25 percent of workers believe getting a higher education degree is the best way to improve their employment opportunities. In the three years Hudson has been asking workers this question, this is the first time that education was the top response. Previously, learning new skills was the most popular answer.

"The shift is subtle, but it is a reflection of today's job market," said Steve Wolfe, senior vice president, Hudson. "The growing demand for knowledge workers has put tremendous pressure on the labor market to produce more highly educated employees. From our perspective, it is heartening to see that the needs of employers are being heeded by a larger number of prospects. The shortage of these workers remains severe, but we see this movement as a step in the right direction."

In terms of salaries, one-fifth (21 percent) of workers believe they will earn significantly more in 2007 than in 2006. Another 42 percent expect to earn a little bit more, for a total of 63 percent having a positive outlook regarding their financial situations next year. In the near-term, 24 percent of workers assume they will receive a holiday bonus, down from 27 percent who made that statement last year.

Looking back at the Hudson Employment Index(SM) in 2006, its average reading through November is 103.8, 2.3 points higher than 2005's average level of worker confidence. Fewer expected layoffs and a heightened sense of job security helped lift the 2006 average reading. There was virtually no change in the average number of workers expecting hiring and just marginal improvements in how workers rated their finances.

"There were strong hopes for the job market in 2006, which were not quite met as hiring slowed late in the year," added Wolfe. "However, that slowdown, coupled with the elevated energy prices and rising interest rates experienced earlier this year, was not enough to dampen workers spirits, which were in fact encouraged by the stability in the market."

                                All Workers  All Workers  All Workers
                                    2006         2005         2004
Average Hudson Employment
 Index                             103.8        101.5        106.2
Average Number of Workers
 Expecting Hiring                    31%          31%          32%
Average Number of Workers
 Expecting Layoffs                   16%          17%          18%
Average Number of Workers
 Concerned About Job Loss            19%          21%          18%

*A more detailed data report is available at It
 also includes 2006 average information for the various demographic
    breakdowns typically tracked by the Hudson Employment Index,
         including occupational sectors and metro markets.
Hudson, one of the world's leading professional staffing, outsourcing and talent management solutions providers, publishes the Hudson Employment Index, a monthly measure of U.S. worker confidence in the employment market. Results are not seasonally adjusted. Next month's Hudson Employment Index will be released on January 3.

About Hudson

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.

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