Worker confidence reached its highest level in the fourth quarter since the third quarter of 2019, according to the US Worker Confidence Index released by staffing provider Yoh, a division of Day & Zimmermann.
The index rose two points from the third quarter to a reading of 114.4 in the fourth quarter. It marked three consecutive quarters of increases after dipping more than five points at the beginning of the year.
“If this most recent worker confidence index tells us anything, it’s that conversations around economic uncertainty are being heard by workers only to a point,” said Yoh President Emmett McGrath. “While they may have valid concerns about job loss, many workers still see potential growth in their jobs and are trusting in the C-suite to bring their organizations’ goals to fruition.”
Yoh’s worker confidence index gauges the perceptions of full-time workers on their job prospects, including the likelihood of job loss, promotion, raise and trust in company leadership.
Perceived likelihood of a raise saw the biggest quarter-over-quarter increase, reaching an index level 128.3 in the fourth quarter from 122.3 in the third. The perceived likelihood of a promotion also increased, reaching 135.5, the highest level recorded in the index’s history. However, perceived job security fell, dropping to 88.0 in the fourth quarter from 93.2 in the third.
Younger millennials and Gen Z workers were found to be the most confident in a potential promotion, with 50.4% anticipating a promotion in the next 12 months. However, they were also the most worried about job loss, with 33% expecting to lose their job in the next year.