Many job-seekers looking for work in the shrinking economy are finding it a good news, bad news proposition, according to The Wall Street Journal. The good news? The job is a senior-level position of sorts. The bad news? It comes with a junior-level title and pay, plus added responsibilities. It's a new form of downsizing: more-senior candidates are being hired but they'll be paid at the level of what fired junior-level employees were paid—plus the new hires get to do the grunt work that their fired subordinates once did, the Journal reports. The trend is taking hold as earnings drop and companies look for new ways to control costs, and as the labor pool is flooded with recently downsized applicants and entry-level candidates, the Journal reported. "Throughout every economic downturn, there's a contraction in the U.S. economy and firms rethink how they organize themselves," Clark Beecher, managing director of Magellan International, an executive-search firm, told the Journal. "They will bring in one person to do three people's jobs and stretch their assets." And how does one tell if they're a part of this unfortunate trend? If you've got a grandiose title but middling paycheck for a job with lots of grunt work, chances are you may have been secretly downsized.
