From grocery bills to gas prices, market headlines to rent increases, the economy sends signals we all feel in our day-to-day lives. But how are those signals showing up at work, where confidence — or a lack of it — can directly influence morale, retention and performance?

The Energage People Science team went straight to the source, asking thousands of employees across organizations nationwide to weigh in by responding to this statement: “I feel confident in the current state of the economy.”

Here’s what the data, gathered from 125,000 workers over a six-month period ending in April, told us and why it matters for today’s leaders.

Employee confidence in the economy briefly peaked in January before starting a steady decline in the three months that followed. This is significant because a decline is not typical for the first months of the year, based on previous years’ data.

Team members (aka individual contributors) express the least confidence in the economy in general, and as such, the drop in positive responses through April to the statement is more limited (a difference of 6 points from peak to nadir). Managers tend to have slightly more confidence in the economy than team members, but their score decline has been especially pronounced — an 11 point drop in positivity since January.

Senior managers generally have the most confidence in the economy across all job levels. While their scores were relatively strong last quarter, they experienced a dramatic drop of 21 points since their peak in December.

Together, this suggests a shared sense of uncertainty in the current state of the economy. But here’s where things get interesting: Even as confidence in the overall economy declines, employees are still backing their own organizations. Our People Science team asked workers to respond to this statement: “I believe my company will achieve its goals in the upcoming months.”

The response? Surprisingly steady.

Over the past six months, favorable scores stayed above 78%, showing that while the outside world may feel uncertain, many employees still trust their leadership and believe in the direction of their workplace.

This is a clear signal that internal confidence can hold strong even when external conditions don’t.

Senior managers report the strongest belief that their organizations will hit their goals, averaging a striking 90% favorability. But it’s not just leadership. Managers and individual contributors are also holding steady, with no downward trends in the past quarter.

So, while economic uncertainty looms large on the national stage, employees across all levels seem to feel far more optimistic about their own company’s future.

For job seekers, it’s more important than ever to look for companies that take culture seriously. One where leadership is trusted, communication is clear and people feel connected to purpose.

For employers, now is the moment to lean into transparency. Your people are navigating economic headwinds, and they’re watching how you respond. Communicate openly, prioritize stability and, most important, listen. Then listen some more!

Proof beats promotion. Job seekers want more than marketing spin. They want evidence. Show them (and your customers too!) that you lead with a people-first culture that fuels people and performance.

In uncertain times, confidence is currency. And trust is how you earn it.


Kinsey Smith is senior people scientist at Energage, a Philadelphia-based employee survey firm. Energage is the survey partner for AJC Top Workplaces.

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