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Noticed that odesk (a job board for freelance programmers like guru and elance) has an interesting trends report page for c developers that shows average wages paid to contractors in US, India, Russia, etc. C++ developer wages and jobs globally - realtime trend page.
Anyone see other sites with correlating stats? I wonder how this US recession is going to affect stats form sites like these now that so many US companies are laying off. Leading indicators of the IT economy??
Smart managers generally prefer lay-offs rather than wage cuts. You can always hire workers back, but wage cuts lower morale and cause stress for workers that will negatively affect productivity. Not to mention if you make it hard for good people to meet ends, they will be looking for work elsewhere and suddenly you find yourself losing people you wanted to keep.
They may hire people back at lower pay eventually, but that is largely inconsequential for those who accept, and remains to be seen yet, I think.