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IBD's Paul Katzeff: Prospects for pay raises have dimmed. The outlook for promotions has darkened.
Workers and job-hunters are bummed out. More people are looking for work, which is driving down pay offers from employers, according to a new study released by the Federal Reserve Bank of New York. Similarly, the average pay that job seekers are willing to accept has declined. Also, workers tell the central bank branch that they are less satisfied with opportunities for promotions at their current jobs.
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