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Volatile economy breeds employment pessimism

Posted on October 4th, 2011 Read time: 1 minutes

The quarterly Employment Confidence Survey from workplace culture website Glassdoor.com revealed a lack of employee confidence in the job market due to economic volatility.

Glassdoor surveyed nearly 3,000 U.S. adults over the internet for the study, which found that 91 percent of unemployed job-seekers believe the roller coaster economy will negatively impact their careers and job searches.

There was a general trend of pessimism in the third quarter of 2011, primarily because of a lack of progress.

"People are staying in the same jobs for three or more years, and are making the same amount or less than they were three years ago," said Rusty Rueff, career and workplace expert with Glassdoor, as quoted by The Wall Street Journal. "Employee confidence remains an important leading indicator of overall consumer confidence, which has been weak with flat unemployment rates and net job creation at a halt."

Researchers found that 18-34-year-olds expressed the most concern about career advancement, as many recent college graduates and twenty-somethings are having little luck finding a full-time position or are becoming temporary workers to fill their income void.

The unemployed seem to be the most pessimistic, as more than two-thirds believe they are unlikely to find a job in the next six months.
 

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