As 2023 continues, the U.S. workforce is reacting to the shifting trends and uncertainty of the economy. For the second consecutive quarter, the Worker Confidence Index decreased, falling by 2.2 points to 108.7. While only the Job Security index continues to increase, the other components that make up the Worker Confidence Index, Anticipation of a Raise, Likelihood of a Promotion, and Trust in Company Leadership saw decreases.
The U.S. unemployment rate averaged 3.6% for the second quarter, and although the U.S. labor market has added jobs for 30 consecutive months, June added the lowest gains since 2020. However, those in jobs are showing signs of staying as job satisfaction remains high among workers who obtained a new job in the last year.
Read the full report to see what is driving these Worker Confidence results.