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1/4 of all workers worried about losing job

Staff Report • Dec 2, 2008 at 12:00 AM

As the nation's economic woes mount, one-fourth of all American workers (24%) are worried about losing their job in the near future. That figure includes 37% of manufacturing workers and 31% of IT workers.

These findings are from the Rasmussen Employment Index, a monthly measure of U.S. worker confidence in the employment market. The Employment Index fell four points in November to 68.1 after falling a staggering sixteen points in October. Typically, a decrease in the Employment Index suggests that the government report on job creation will be weaker than the month before (see history).

Just 14% of workers report that their companies are hiring, down three points from a month ago. Twenty-four percent (24%) report lay-offs are coming at their workplace. In the five year history of the Rasmussen Employment Index, this is only the third time that the number reporting layoffs is higher than the number whose firms are hiring. It's also the second straight month that this has occurred (the previous time was in June of this year).

Nineteen percent (19%) of private sector managers say their firms are hiring while 29% say they are laying people off.

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Forty percent (40%) of U.S. workers now say their personal finances are good or excellent. That's down a point from last month and down three from two months ago.

The Rasmussen Employment Index is based upon telephone interviews with approximately 9,000 employees each month. Results are released on the Tuesday preceding the government report on employment.

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