Job Market Confidence Reaches Nearly Four-Year High; Glassdoor Employment Confidence Survey (Q2 2013)
As consumer confidence recently hit its highest level in more than five years, Glassdoor’s Employment Confidence Survey¹ shows that job market confidence has also hit its highest level in nearly four years. More than two in five (43%) employees (including those self-employed) believe they could find a job in the next six months that matches their experience and current compensation levels, a high since Q3 2009.
The Glassdoor Employment Confidence Survey monitors four key indicators of employment confidence: re-hire probability, job security, company outlook and salary expectations. More than 2,000 adults ages 18 and older participated in the online survey.
Other results around job market optimism can be found in younger employees (18-34 years old), as 49% report they are very/somewhat likely to find a job in the next six months. Also, 39% of people who are unemployed but looking for work believe it is likely they can find a job matched to experience and compensation levels in the next six months, which is up eight percentage points.
Job Security Confidence Down
While employees are more confident in the job market, they also report less confidence in their current employment situations. One in five (22%) employees are concerned they could be laid off in the next six months, up three percentage points since last quarter and a high since Q2 2011. Employees 45-54 years old (29%) are more concerned about layoffs than other age groups: 18-34 years old (21%) and 35-44 years old (15%).
Employees Less Confident In Their Employers
When it comes to how employees feel their company’s business will perform in the next six months, two in five (42%) employees, including those self-employed, believe it will perform better, down three percentage points since last quarter. One in ten (12%) expect their company’s business to perform worse in the next six months, up three percentage points from last quarter.
Salary Increase Expectations Remain Steady
Two in five (40%) employees expect to receive a pay raise or cost-of-living increase in the next 12 months, while 40% do not and 21% are not sure, remaining relatively flat since last quarter. However, employees with a total household income of $50,000-$74,999 appear to be growing more optimistic (45%) about a pay raise or cost-of-living increase in the next 12 months, up 12 percentage points from last quarter.
See more from the Q2 2013 Glassdoor Employment Confidence Survey in our press release and survey supplement which includes data breakdowns by age, gender and income. The Q2 13 Glassdoor Survey also includes results on which workplace benefits are most important to employees outside of salary and compensation, along with other results related to workplace benefits.
¹ The Glassdoor Employment Confidence survey is conducted online by Harris Interactive on behalf of Glassdoor.