Most laid-off US workers take pay cuts in new jobs
WASHINGTON (AP) - August 24, 2012 (WPVI) -- The U.S. economic recovery hasn't felt 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.
The Labor Department says in a report that only 56 percent of Americans laid off from January 2009 through December 2011 had found jobs by the start of this year. More than half of them took jobs with lower pay. One-third accepted pay cuts of 20 percent or more.
The figures would be even lower if people who could find only part-time jobs were included in the total.
The report is an illustration of the job market's persistent weakness well after the Great Recession officially ended in June 2009.
economy, unemployment, recession, business/finance
- 911 recordings released in Ewing Twp. explosion 47 min ago
- Brief Surge of Mild Air
- Get the 6abc StormTracker app
- WATCH: Action News Online
- Man,90, dies in Hamilton Township house fire
- Partial house collapse in Strawberry Mansion 57 min ago
- 2 injured in NJ Turnpike crash in Mt. Laurel 18 min ago
- Autopsy results released in death of trooper's wife
- Search for finger-biting mall attack suspects
- Pa. woman born at Burger King seeks birth mom
- Cabbie allegedly locks doors in credit card dispute
- Vietnam vet's therapy dog missing in Lehigh Valley
- Photos: 7 recent child porn arrests in Pa.and Del.
- Photos: Thwarted! 10 suspects caught in the act
- 911 recordings released in Ewing Twp....
47 min ago
- Partial house collapse in Strawberry Mansion
57 min ago
More business resources
Most Viewed StoriesMost Viewed Photos