A new CareerBuilder survey finds that 41 percent of workers who were laid off from full-time jobs in the last three months reported they found a new full-time, permanent position while another 8 percent found part-time work.
The survey polled 807 workers who were laid off from full-time jobs within the last 12 months.
Here are the findings:
Severance and Long-term Savings:
The financial implications of job loss were significant for affected workers. Of those workers who were laid off in the last 12 months, only 32 percent received a severance package from their employers. Sixty-nine percent reported the severance sustained them for 2 months or less. One-in-four said it sustained them for less than one month. Forty-five percent of workers who were laid off in the last year had to tap into long-term savings as a result of losing their jobs.
Impact on Pay and Hours:
Workers reported taking pay reductions and adjusting hours to keep a steady paycheck. Nearly half of workers (49 percent) who were laid off in the last 12 months and landed new positions took a job with less pay; 15 percent were able to negotiate higher compensation. One-in-five (20 percent) took a job with less hours while 12 percent took on more hours.
Relocating:
Workers said they are expanding their job search beyond their own backyard. Thirteen percent of workers who were laid off in the last 12 months and found jobs relocated to a new city or state. Of those who are still looking for employment, 39 percent reported they would consider relocating for a job opportunity.
Transferring Skills to Other Industries and Fields:
Workers reported they are repackaging their resumes for new areas of employment. Thirty-eight percent of workers who were laid off in the last 12 months and landed new positions said they found work in a different field from where they were previously employed. Seventy percent of these workers said they really enjoy the new opportunity. Of those workers who are still job hunting, 44 percent are looking for work outside of their profession.
Starting a Business:
A highly competitive job market is motivating some workers to be their own boss. One-in-four workers (25 percent) who have not found jobs are considering starting their own business.
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April 16th, 2009 at 2:25 am
I just have been through your post. It’s been really good and informative. And the findings are not really surprising me, but it’s good to see that 25 percent of the people are thinking to start their own business, which is really interesting. Anyhow, Thanks a lot for the post.