IT Workers Less Confident About Jobs, Finances

April 7, 2007

While national worker confidence grew, the feelings of IT professionals about their jobs, finances and the economy slipped in March, finds a new report.

Anticipating a hiring slow-down and expressing malcontent in their work, IT worker confidence slipped in March, finds an index released April 4 by New York-based staffing company Hudson.

Hudson's IT worker confidence index came in at 109.7 in March, down 2.6 points from February, and down 5.3 points from March 2006.

Down from 36 percent in February, only 31 percent of IT workers believed their companies would be hiring in the coming months, hinting at a looming technology slow-down. However, the number of workers who expected their companies to have layoffs was down from the previous month to 21 percent.

Furthermore, IT workers were less preoccupied in March with losing their jobs than they were in February, at 18 percent versus 21 percent.

Yet, the technology workforce were less happy with their jobs in March than they were in February, falling from 74 percent to 70 percent.

The over five-point slide in IT worker confidence came in contrast to that of Hudson's national index of all workers, across fields and professions, which gained nearly two points in March. The March 2007 measure came in three points higher than that of March 2006.

Workers nationally expressed improved sentiment regarding their personal finances and job satisfaction. Up two points from February, the number of workers who rated their finances as "good" or "excellent" climbed to 46 percent.

Three-quarters of the workforce indicated that they were happy with their jobs, up one point from February.

"Despite some recent worrisome news regarding the economy, particularly in the housing sector, U.S. workers remain upbeat about the job market," said Robert Morgan, president of Hudson Talent Management. "Instead, low unemployment and steady, albeit somewhat slower, job growth are established trends that can help explain why most of the work force seems undeterred by bad news."

Confidence among all managers slipped in March due to weakened sentiment relating to their finances. Specifically, the number who indicated their financial situation was improving fell three points to 49 percent, while there was a four-point jump in the number who said it was getting worse.

Copyright 2007 by Ziff Davis Media, Distributed by United Press International