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SOURCE The Conference Board
Job Satisfaction Remains Under 50%, According to New Survey
NEW YORK, June 18, 2014 /PRNewswire/ -- Americans have the highest job satisfaction levels since the beginning of the Great Recession, according to a report released today by The Conference Board. The majority, however, continue to be unhappy at work.
The report, based on a Fall 2013 survey of 5,000 U.S. households conducted for The Conference Board by The Nielsen Company, finds 47.7 percent of Americans are satisfied with their jobs. Though a slight improvement from 2012 and 2010 - when the figure stood at 47.3 and 42.6 percent (an all-time low), respectively - job satisfaction remains historically low, extending a trend seen since the turn of the century. While job satisfaction in the 1980s and '90s routinely neared 60 percent or higher, 2005 was the last year in which a majority of Americans was satisfied at work (52.1 percent).
"The U.S. economy is growing at a disappointing rate, and this sluggish recovery is mirrored in American workers' tepid job satisfaction," said Rebecca Ray, Executive Vice President, Knowledge Organization at The Conference Board and a co-author of the report. "That said, as the direct effects of the recession wear off, workers are also seizing new opportunities in a tightening labor market - a fact reflected in rising quit rates. Employers able to improve job satisfaction could thus gain a significant competitive advantage in attracting and retaining capable employees."
Identifying the Key Drivers of (Dis)satisfaction
The survey broke down satisfaction to its component elements. Respondents were asked their level of satisfaction on different aspects of their jobs - and which aspects were most important to them.
"Based on macro trends - including a significantly tighter labor market, slowing productivity growth, and more business investment - worker satisfaction should be on the rise," said Gad Levanon, Director of Macroeconomic Research at The Conference Board and a co-author of the report. "But job dissatisfaction may remain entrenched until we see improvements in worker compensation, which has grown abysmally in recent years despite historically high corporate profits."
The Rich Keep Getting (Relatively) Happier - and Other Demographic Trends
As in previous edition of the survey, significant disparities were found across various populations. Among the key findings:
Source: Job Satisfaction: 2014 Edition
by Ben Cheng, Michelle Kan, Gad Levanon, and Rebecca Ray
For complete details of the report visit:
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501(c)(3) tax-exempt status in the United States. For more information, please visit www.conference-board.org
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