American workers are increasingly worried about the future of their companies and the overall U.S. business environment, according to a recent Glassdoor survey. In May 2025, only 44% of workers expressed a positive six-month outlook for their companies, the lowest level in nearly a decade of data collection. This decline in confidence began in March 2022, coinciding with inflation reaching a 40-year high and the Federal Reserve's interest rate hikes aimed at curbing rising prices.
Daniel Zhao, Glassdoor's lead economist, noted that employees feel disillusioned as they have been managing heavier workloads since 2022, with anxiety fueled by multiple rounds of layoffs that create uncertainty about future job security. In May, mentions of layoffs in employee reviews increased by 9% from April, and references to "uncertainty" surged 63% compared to the previous year. This uncertainty is not only linked to policy changes but also to broader economic conditions.
The Zeta Economic Index, which analyzes digital interactions of millions of Americans, shows a nearly 9% drop in job market sentiment since last May. Confidence varies by industry, with construction and logistics workers showing the largest decline due to tariff-related slowdowns, and manufacturing employees remaining pessimistic amid continued contraction in that sector.
Employee confidence is especially low among entry-level workers, who reported a record low confidence score of 43.4 in May 2025. The gap between entry-level employees and top leaders has widened to about 18 percentage points. Recent college graduates, particularly in tech, face limited job opportunities due to the rise of artificial intelligence and ongoing tariff uncertainties.
Workers' posts on Glassdoor also reflect concerns about business health, with reports of unpaid invoices, delayed payments, and quiet layoffs contributing to a sense of burnout. Some employees are leaving their jobs without new positions lined up, driven by exhaustion and economic anxiety.
Regarding inflation, economists expect the May 2025 Consumer Price Index (CPI) to show a slight increase, with an annual inflation rate forecasted to rise to 2.5% from 2.3% in April. This uptick is partly attributed to the effects of tariffs introduced during the Trump administration, which continue to influence prices. Core inflation, excluding food and energy, is expected to rise modestly as well.
In summary, American workers are facing growing economic uncertainty, heavier workloads, and job insecurity, all amid a backdrop of persistent inflation and tariff-related economic pressures. This combination is driving employee confidence to historic lows, especially among younger and entry-level workers.