Americans are not afraid of wage cuts

Richobo

Americans wage cuts.

Americans expecting pay cuts in the next four weeks hit an all-time low in September, according to a new survey.

For example, a new Morning Consult poll found that only 8.1 percent of American adults surveyed said they "expect pay cuts this time around. "That's down 4 percentage points from last month's survey, where 12.5 percent of respondents said they had the same expectations. The survey found that low- and middle-income respondents saw a sharp drop in their expectations of wage loss. A survey of domestic helpers earning less than $50,000 a year found that the proportion of respondents expecting to lose their wages in the next four weeks fell by more than four points. For example, the indicator fell from 13.7% in August to 9.2% in September.

Meanwhile, the share of domestic helpers making between $50,000 and $99,999 who expected their wages to fall this time fell from 13.2 percent in August to 7.3 percent last month. The survey found that while the number of jobs nationwide fell sharply in August, according to the Labor Department's Jobs and Turnover Report, businesses continue to hire people at a steady pace. This kept the number of layoffs at historically low levels during this period. Fears of inflation and a possible recession in the US have heightened this year as prices for food, energy and other commodities have risen.

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Americans wage cuts.

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