The Worker Confidence Index (WCI) for the second quarter of 2018 declined by 2.8 points, reversing a prior trend of consecutive quarterly increases.
Of the four components of the WCI, only Job Security increased, rising 4 points since the first quarter of 2018. Likelihood of a Promotion decreased the most, down by 9.9 points. The Likelihood of a Raise and Trust in Company Leadership indices also declined; however, all four indices remain higher than they were one year ago.
Workers remain secure about job stability, which may be due in part to historically low unemployment rates. Concern about job loss is the most important indicator in estimating worker confidence about their current and near-term financial outlook. In addition, women reported increasingly higher levels of confidence in their job security than men, continuing a two quarter trend. Workforce data from the Bureau of Labor Statistics (BLS) remains consistent with job security study findings.
What else does the report show that impacts HR?