Layoffs Cause Serious Lifetime Earnings Loss
A new report shows a pretty serious earnings impact for those laid off between 2007 and 2009. Even those who were able to find jobs after being laid off took a pay cut of 17% compared to their prior earnings. Not sure how it compares to the supposed benefits of getting a bachelor’s degree in lifetime earnings but it’s interesting to contemplate that industry and pure luck seem to have more of an affect on earnings. Or maybe that major news media organizations are actually covering this disparity.