Jobs Up (Slightly), Pay Rates Remain Down

Many jobs are paying 40-60 percent below the pay rate level of those positions in 2008.

I was fortunate to reunite with some old friends at a few different recent events and, naturally, the discussion turned to the current employment market. Both were astounded when I declared that, even though the number of new hires I am seeing is going up slightly, pay rates are still running way below 2008 standards. They were stunned to learn that a 40-60 percent pay cut from levels of four years back is awaiting those trying to regain employment as the drought slowly diminishes.

One friend asked me how could people accept jobs that were not paying them what they were worth and my answer was simple. There are two options right now. One is to accept the rates being offered even though they are absolutely devastating to some, and hope, that as things improve, employers will realize your value and offer salary increases.  The second option is to remain on unemployment until it runs out then tap into whatever resources you have which will ultimately weaken your funds when you eventually become too old to work.

Choices are had to make and everyone has their own personal value system to adhere to. This blogger will certainly never tell you how to make your own personal moves but I will urge you to think long and hard before rejecting a job opportunity. From my work as a recruiter and career coach, I have seen too many people wait too long to jump back into the mix and ultimately end up settling for even less when things reached the point of no return for them. Think long and hard and do some serious soul searching before you decide to take it or leave it!

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Harold Levin May 31, 2012 at 03:08 AM
Lisa, Thank you! You made some extremely valid points. I do believe we are all beginning to take a better look at what we need versus what we want. The days are getting everything that some people feel they are entitled are fading quickly!
Mike June 04, 2012 at 12:18 AM
Do NJ employers say, overtly or covertly, "only currently employed need apply"? I read that's illegal/discriminatory in some states. Separately, someone's got to be getting rich getting top talent for 40 cents on the dollar.
Harold Levin June 04, 2012 at 12:28 AM
Mike, Thanks for your comments. Occasionally, employers do ask me why a candidate has been out of work for some time and I ask them to look around and ask themselves when is the last time they hired someone! That usually ends the questioning on the spot.
Mike June 07, 2012 at 12:16 PM
Harold, I was referring to the legality; I figure all potential employers probe about candidates' status and reasoning. To wit: http://www.nytimes.com/2011/07/26/business/help-wanted-ads-exclude-the-long-term-jobless.html http://www.huffingtonpost.com/2011/08/11/unemployment-discrimination-slideshow_n_917641.html http://blogforce.wrksolutions.com/2012/03/19/only-the-currently-employed-need-apply/
Harold Levin June 08, 2012 at 10:55 AM
Mike, I had a conversation with an HR Manager this week who told me that one of her hiring managers asked for cnadidates who only have stable work histories. She convinced them that asking for stability up until a bout 2008 is realistic but not beyond that point. Definitely, there are roadblocks to deal with everywhere.


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