As the economy gradually improves, laid-off workers’ job searches are beginning to improve in 2010 as well.
According to an updated survey by CareerBuilder, 51 per cent of workers who were laid off in the last three months have found new full-time or part-time positions. This is up from 44 per cent of workers who said the same in a November 2009 survey.
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“As consumers and businesses grow more confident in the economic outlook, hiring managers are beginning to add new staff at an improved, but cautious pace,” said Brent Rasmussen, President of CareerBuilder North America.
“More than half of workers who were laid off in the first quarter have already found employment, primarily in full-time positions. Not only is this a positive indicator for the labour market, it also shows that job seekers are being resourceful in their job hunts and are open to different types of opportunities.”
Changes in Pay
Looking at workers who were laid off in the last three months and found new jobs, nearly 40 per cent reported they were able to negotiate comparable or higher pay for their new position. Sixty-one per cent of workers took a pay cut.
Businesses are beginning to bring back their workforce. Fifty-seven per cent of workers laid off in the last six months have been re-hired by their former employer who laid them off from their jobs. Seven-in-10 (71 per cent) of workers who were laid off in the last six months and have not found jobs would be willing to work for their former employer. Of these workers, 22 per cent indicated that they would only return to their previous workplace if their employer offered them more money.
Workers reported they are repackaging their skills and experience for different industries. Sixty-four per cent of workers who were laid off in the last six months and landed new jobs said they found work in a different field than where they were previously employed. More than half of them (55 per cent) reported they really enjoy their new positions.
Plans to Change Employers
The majority of laid-off workers (63 per cent) who found new jobs in the last six months plan to stay with their current employers when the economy turns around. Thirty-seven per cent plan to change employers once market conditions improve.
Workers are also expanding their job searches beyond their current borders. More than four-in-10 (46 per cent) workers who were laid off in the last six months and found jobs relocated. Of those laid off in the last six months and still looking for employment, 42 per cent reported they would consider relocating for a job opportunity.
Starting a Business
Some job seekers indicated they are embracing entrepreneurship in their efforts to find employment. Thirty-two per cent of workers who were laid off in the last six months and have not found jobs are considering starting their own businesses.