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New Jobfox report states slow economy is causing flat wages

09.16.08

September 2008 Scranton/Wilkes-Barre/Hazleton edition of The Union News

New Jobfox report states slow economy is causing flat wages

By PAUL TUCKER
theunionnewsswb@aol.com

REGION, September 4th- Jobfox.com, a internet career site located in McLean, Virginia for working professionals with corporate recruiters, stated on August 29th the slow national economy is causing flat or lower salary expectations for job seekers.
A new Jobfox report finds bottom line employers challenges is rubbing off on job seekers salary negotiation strategies.

In addition to creating higher unemployment and job-loss fears among working professionals, the weakened United States economy is also casting a shadow on the psyches of job candidates and how aggressively they bargain for starting salaries when seeking new employment opportunities, Jobfox reported.

The August 29th released report finds that job seekers salary expectations across 25 of the most in-demand professions, have remained flat or have decreased over a five-month period, March through July 2008.

The study found none of the 25 professions had increasing median salary range expectations among job candidates.

Also sixteen of the 25 professions (64 percent) recorded flat job seeker salary expectations.

Nine professions (36 percent) recorded decreasing salary expectations at some point over the five-month period.

“It’s an employer’s market right when it comes to salaries. Companies are concerned about budgets and corporate bottom-line challenges have rubbed off on job seekers salary negotiations,” said Jobfox CEO Rob McGovern.

Mr. McGovern stated in addition to feeling the pain of companies, job seekers are also forced to adjust salary requirments in light of growing employer cost-control strategies. One of those strategies is greater reliance on bonus programs and other pay-for-performance compensation models.

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