Pay cuts versus layoffs: what do workers think?
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To elicit the views of workers, we carried out an innovative survey of new unemployment insurance (UI) recipients. Most UI recipients express a willingness to accept wage cuts of 5-10 percent to stay on their job for another 12 months. Remarkably, one third would accept a 25 percent cut in pay. Yet we also find […] The post Pay cuts versus layoffs: what do workers think? appeared first on Microeconomic Insights .