The Worker Confidence Index (WCI) decreased by 0.7 points since last quarter and 1.3 points since last year. It now stands at 103.2 after increasing for the past two consecutive quarters.
Of the four components of the WCI, trust in company leadership rose by 3.2 points, while there was a 2.5 percent decline in confidence related to job security.
The decline in the WCI since last year suggests some concerns in worker confidence, specifically related to trust in company leadership – which experienced a significant drop of 3.6 points since the fourth quarter of 2016. Recent volatility in the stock market may contribute to lower worker confidence in 2018, but for now, confidence remains high overall.
In addition, the rate of growth in the gross domestic product increased at an annual rate versus the fourth quarter last year, reflecting positive contributions from personal consumption.