This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Employees Are Just Plain Sick Of It

BOSTON ( TheStreet) -- The country added 204,000 jobs in October, much more than expected, according to a jobs report by the U.S. Labor Department. It's another sign the economy is recovering, but those who are actually employed are generally not feeling celebratory.

The Value of Work survey released by shows worker confidence and satisfaction on the decline, with many in the labor force reporting a lack of fulfillment and pride in their jobs.

Only 38.5% of workers surveyed said they found their jobs fulfilling, and only slightly over half of the respondents (52.3%) said they were totally committed to them. These figures are way down from the same survey conducted last year, when 59.2% of respondents said they were fulfilled by their jobs and 71.4% claiming to be totally committed.

Additionally, people who claimed to work extra hours because they enjoyed their work plummeted, from 48.5% to 19.5%, and those who asserted they work primarily for their paycheck went up from 55% to 72%.

"I think what is happening here is some people feel they are not where they thought they would be in their career or financially in this point after the recession," says Abby Euler, CEO of Euler also suggested that many workers may have been rattled by the recession's effects on their salaries, savings and stock portfolios, many of which have not rebounded or recovered as many might have hoped.

An unrelated survey by Financial Finesse found that more people are reporting feeling uneasy or unsure about their financial futures, including retirement preparedness, investing and insurance. In particular, Financial Finesse found that 41% of employees are uncertain about their ability to achieve future financial goals, as compared with 33% in 2011.

This apparent downward spiral of worker confidence and comfort could be in part due to the kinds of jobs people are working.

According to the jobs report, the economy added nearly double the amount of jobs last month that were expected by financial analysts. But the biggest job gains were in the leisure and hospitality sector, which added approximately 53,000 jobs.

Between 2009 and 2013, low-wage jobs grew to outnumber high-wage jobs by 800,000. In 2009, low-wage jobs made up 39% of all jobs created, even though they accounted for just 19% of the overall job market.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.32 -0.90%
FB $117.87 0.37%
GOOG $696.58 0.61%
TSLA $223.44 -3.80%
YHOO $36.02 0.03%


Chart of I:DJI
DOW 17,645.92 -104.99 -0.59%
S&P 500 2,051.14 -12.23 -0.59%
NASDAQ 4,727.6040 -35.62 -0.75%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs