
Earlier this month, the Bureau of Labor Statistics reported fewer job losses in March – the smallest loss in three years. But this only shows part of the story.
According to the Glassdoor Employment Confidence survey, fewer employees reported layoffs (48%) than prior recent quarters yet more employees (55%) said their employer made changes to the number of staff, organizational structure, compensation and benefits, or other perks in the past six months. In fact, 28% said that their own pay was reduced in some way in the past six months. So while the recent jobs data is a positive step, employees may still be wary of what’s ahead: in fact, 76% said they would be willing to take a pay cut to keep their job and 88% of unemployed job seekers would take less than they want.
Since many of the “rules” for pay have changed in the past two years, we decided to run some analysis and found some interesting notes for those in the tech sector.
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- Employment Confidence Survey, Salaries, San Francisco, Seattle, Tech Companies