More than 800,000 federal employees are currently being forced to stay home without pay as congress and President Barack Obama are locked in a stalemate over the spending plan for the fiscal year.
Over here in the private sector, things are looking slightly better.
A new report by rate-your-company startup Glassdoor found that only 15 percent of employees fear being laid off. This is down 7 points from last quarter, and the lowest level since the fourth quarter of 2008.
Interestingly, male workers are more concerned about being laid off than female workers, particularly males ages 35-44.
Confidence in the private job market is also stabilizing.
Fifty-one percent of respondents believe their company’s outlook will remain the same, while 40 percent believe its getting better.
Furthermore, 76 percent of employees reported the their company awarded new perks such as the option to work remotely, casual dress, and flexible work hours. This number is up 29 number since last quarter, and is the highest since 2011.
While the perks are up, the amount of large-scale hiring is down. Eighteen percent of employees said their employer initiated large-scale hiring in the past six months, which is 15 percent lower than last quarter.
Two-out-of-five employees believe they can find a job that matches their experience and compensation, and this number has stayed consistent.
But any increased confidence in the employment market and economy is moot if the government can’t get its s*** together.
The Labor Department is not releasing the government’s official monthly job tally today due to the government shutdown, but the most recent federal jobs report looked bleak. Unemployment hovers at around 7.3 percent.
Giant payroll company ADP conducted a report of its own, and found that job recovery is “softening.”
So how does this relate to the tech community?
New and young tech sector companies are the “engine of job creation” in the U.S. They are a critical source of new jobs and the fights over the budget could hamper their ability to operate, grow, and hire.
If this sector starts to slow and stagnate, the reverberations will be felt throughout the economy and could hamper any progress that has been made.
For now, those of you in the private sector be glad that you have a job, and those in the public sector, hold on tight.
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