According to a new study by Carl Van Horn, Cliff Zukin, and Allison Kopicki [pdf], for the John J. Heldrich Center for Workforce Development,
nearly 30 million people — say they were laid off from a job in the past five years. Nearly 4 in 10 of these laid-off workers say they searched for a job for more than seven months before finding another one; one in five workers laid off during the past five years never found another job (see Figure 1). Of those who found another job, one in four say it was a temporary position.
Moreover, laid-off workers who found another job seldom improved their financial situation: two-thirds say their new jobs either paid less than their previous one (46 percent) or paid the same (21 percent). It’s no surprise then that nearly half of the reemployed workers say their new job was a step down for them compared to what they were doing five years ago. Just a quarter say their new job was a step up and only a third say they are receiving higher pay.