Though Americans are a little more confident about their job security in the second quarter of 2024, they’re losing confidence in the likelihood of a promotion or raise and losing trust in company leadership. As a result, the U.S. Worker Confidence Index™ (WCI), a survey of U.S. workers commissioned by HRO Today magazine and Yoh, dropped from 111.3 to 107.3 in Q2. This measure is down 7.6 points from the WCI’s peak of 114.9 in Q4 of last year.
After decreasing for three consecutive quarters, the perceived job security measure jumped from 95.9 to 100.6 in Q2. Notably, remote workers (29.3%) were far more likely to fear job loss than on-site workers (7.4%). And older workers were more confident in the security of their job than younger workers.
However, the other three key aspects of worker confidence in Q2 experienced decreases:
- With a sharp decline from 129.1 to 115.3, the perceived likelihood of a promotion dropped the most in Q2.
- Confidence in the possibility of a raise decreased from 117.9 to 112.3. This measure is higher than Q2 of last year, however.
- Trust in company leadership declined slightly, from 102.4 to 101.0, in Q2.
