Unemployment duration linked to declining wages, hitting men and high earners hardest.
Unemployment duration in Belgium affects how much people ask for in wages. The longer someone is unemployed, the less money they are willing to accept for a job. This decrease is around 0.4% per month, or 5% per year. Men and those who had higher wages in their previous jobs experience bigger drops in their asking wages. This suggests that people adjust their expectations as they spend more time without a job.