Worker confidence surged in the last months of 2023, bouncing back from the decline it was on all year long. The Worker Confidence Index reached a record high, jumping 8.1 points to 114.9, which echoed the surprising resilience of the U.S. economy.
Confidence was buoyed by a strong economy, labor market, and stock market, along with wage increases. The U.S. unemployment rate stayed low at 3.8%, and the frenzy of hiring and quitting that occurred in the previous year cooled off. Workers trusted in their company leadership more, and they felt more optimistic about getting a promotion and a raise. However, job security declined in some segments.
Watch our video presentation above for a summary and interpretation of the results by Larry Basinait, VP Market Research at HRO Today. And read the full report, sponsored by Yoh Recruitment Process Outsourcing, to find out what drove worker confidence in 4Q’2023.
Published: February 20, 2024
