Pays Cuts: Are They For Real?
By Bryan Caplan
Several economists I know say that labor markets have gotten more flexible in recent years. But are nominal pay cuts really happening to any significant degree? The only evidence that’s come across my desk is from this piece, which claims that:
Fifteen percent of employers surveyed by the Society of Human Resource
Management reduced pay in the past six months — a threefold increase
from earlier this year.
When I tried googling the SHRM survey, though, I just got other secondary sources. I’ve nosed around their website for ten minutes, and couldn’t find anything. Can anyone help me out? How was this survey really done, and what did it really say?