While there are many statistics to chose from, three stand out as a testament to the issues confronting industry members.
As the chart shows, 35% of workers did not receive any raise last year, while another 21% received a raise of less than 3%. That combination was a major factor in limiting the average raise in 2008 to just 3.3%, the lowest in more than five years. The percentage of industry members who didn’t receive a raise in 2008 seems likely to increase in 2009 as 70% of respondents to the survey—e-mailed this spring—reported that their company had instituted a salary freeze, with 63% saying there was also a hiring freeze. Sixty-one percent of industry members said their companies have had layoffs. Only 10% of publishers had not taken any action to control personnel costs in the 18-month period. Given the drumbeat of bad news, it is not surprising that publishing employees have never felt less secure about their jobs. Only 13% of workers say they feel very secure in their jobs, an all-time low, while 11% feel very insecure, an all-time high. Editorial employees had the highest rate of insecurity, with 38% saying they are worried about their jobs.
Monday, July 13, 2009
Morale is still low in the publishing industry, according to Publisher's Weekly: