Skip to comments.Most laid-off US workers take pay cuts in new jobs
Posted on 08/25/2012 12:26:23 AM PDT by Olog-hai
The U.S. economic recovery hasn't felt much like one even for people who managed to find new jobs after being laid off. Most of them have had to settle for less pay.
Only 56 percent of Americans laid off from January 2009 through December 2011 had found jobs by the start of this year, the Labor Department said Friday. More than half of them took jobs with lower pay. One-third took pay cuts of 20 percent or more.
The report provides an illustration of the job market's persistent weakness well after the Great Recession officially ended in June 2009. It also documents that while the economy has added nearly 3 million jobs since the recovery began, many pay less than those that were lost.
And it points to the challenge for President Barack Obama, who's seeking re-election with unemployment at 8.3 percent. No president since World War II has faced re-election with unemployment above 8 percent. It was 7.8 percent when Gerald Ford lost to Jimmy Carter in 1976.
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I had it ass backwards! I took a 1/3 pay cut for 3 years to KEEP my job.
“Well we don’t want to lose you”
LET ME GO so I don’t work for FREE for one damn year, SOBs.
And YES there were BENEFIT checks going out GREATER than department salaries.
As a career counselor and recruiter for over 20 years, I tell people that the best time to look for a job is when you already have one. After being laid-off, fired or resigning, you are “damaged goods” and will most likely have to settle for less than what you had. Reality, if not easy to hear.
My wife and I were both cut from our jobs in Jan. 2009, took two years to get jobs, but happily took them for 1/2 pay.
Unfortunately, were getting ready to sell our home, we just can’t keep up any longer.
Jobs in the oil field FRACKING pay top dollar....truck drivers at $80K and above .....roughnecks the same and wireline operators well (no pun intended) in 6 figures.
Caution: American may NOT have it’s nose full of Obama YET..
Never underestimate the stupidity of a people that has not learned Civics or American History yet..
If you had, you may still be looking for work.
The recession ended in 2009? Because that’s when it turned into a depression?
As a career counselor and recruiter for over 20 years, I tell people that the best time to look for a job is when you already have one. After being laid-off, fired or resigning, you are damaged goods and will most likely have to settle for less than what you had. Reality, if not easy to hear.
If I were single or we were able to go out there, I would have been gone long time ago. Surely with my mix of techninal, ancient mechanical/heavy equipment I could find something.
For a long list of reasons I can’t (family related). I am doing OK not great but OK.