The Downshifting of American Jobs
Wage and education levels of new hires in recession and recovery
15 September, 2011 | (01 hr)
Over the past three years, the U.S. economy has experienced one of the highest unemployment rates in the post war era. As a result, many laid-off workers and graduating students have been willing to accept jobs at lower wages rates than they originally expected. This downshifting of expectations and opportunity has allowed employers to hire more educated and experienced employees at wages equal to or lower than before the recession.
Learn more about:
- The labor trends across demographic groups, industries and occupations including wage growth of new hires versus “job stayers”.
- The increase in the average education level of new hires across industries and occupations.
- The outlook for wage growth in 2012.
- How these trends will affect your business and the American economy.
Audience: Executives in compensation and benefits, planning, talent acquisition, finance and related areas.
Gad Levanon, Ph.D.
Gad Levanon is director of macroeconomic research at The Conference Board, where he also leads the labor markets program. He also serves on The Demand Institute™ leadership team.
Levanon created ... Full Bio
Vivian Chen is a senior economist at The Conference Board.
She is responsible for research programs on medium and long-term growth, productivity and competitiveness. Chen leads the development of the Total Economy Database ... Full Bio