2023 has proven to be an unpredictable year for the global talent economy. Despite retention and job satisfaction reaching new heights, the Worker Confidence Index decreased for the third quarter in a row, falling by 1.9 points to 106.8. All four indices of the Worker Confidence Index (Job Security, Anticipation of a Raise, Likelihood of a Promotion, and Trust in Company Leadership) decreased during this quarter, with Trust in Company Leadership falling the most, by 2.3 points to 103.3, its lowest level in over a year.
The U.S. unemployment rate averaged 3.8% for the third quarter, remaining stable from the second quarter. It remains to be seen how (now-completed) strikes in the entertainment industry and (newly beginning) strikes in the automotive industry will influence overall worker confidence as 2023 nears its end.
Read the full report, sponsored by Yoh Recruitment Process Outsourcing, to see what is driving these Worker Confidence results.