Americans are accepting lower salaries and settling for roles that fall below their level of experience, as concerns over a softening labor market prompt many to “hug” onto their current jobs.

According to a new survey by TopResume—titled “Overqualified and Undervalued”—70 percent of U.S. professionals are willing to drop down in seniority to ensure they keep their jobs. Additionally, 75 percent said they would take a pay cut in the interests of job security, with 34 percent willing to accept a salary reduction of 11 percent or more. READ MORE