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Laid-Off Workers Take Pay Cuts in New Jobs: Labor Department Report

How are you feeling about your personal finances these days?

Most people who lost jobs during the past few years and found new ones aren’t making as much, according to a report from The Associated Press.

The story cites a Labor Department report that found that 56 percent of Americans laid off from January 2009 through December 2011 had found jobs by the start of this year. And more than half of them took jobs with lower pay, the story says.

Which makes us here at Bellevue Patch wonder: what’s been your experience during the so-called economic recovery? Have you or someone you know lost a job and struggled to find a new one? If you’ve found a new one, what’s the pay like? And even if you’ve kept your job, how are you feeling about your personal finances?

We'd love to hear your thoughts in the comments.

Mitch Labuda August 26, 2012 at 10:40 PM
A study to tell us what people, those out of work, know already. People have to pay bills, eat, keep a roof over their heads, so, of course many will take pay cuts. A study?
Margaret Santjer August 27, 2012 at 02:13 PM
Mitch, thanks for the comment. What I thought was interesting (and disheartening) was the proportion of people who took pay cuts in their new positions. Sometimes I think there's a belief that if you lose a job, you'll land another one and be OK. But this shows that the earnings bar is reset to a lower level for many people.

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