Pay Cut

WASHINGTON -- The U.S. economic recovery hasn't felt much like one even for people who managed to find new jobs after being laid off. Most of them have had to settle for less pay. Only 56 percent of Americans laid off from January 2009 through December 2011 had found jobs by the start of this year, the ...

By Calli Tapler In the boom times, taking a pay reduction was pretty much unthinkable. You worked hard and did well so you got a raise or a better job that paid more money. A decrease in salary was seen negatively, as if you'd done something wrong in your career. ...