Some out-of-work GOP staffers may face unemployment
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Published: Thursday November 9, 2006
With hundreds of Republican aides set to lose their jobs as Democrats take over Congress, K Street veterans tell Roll Call that some may have to file for unemployment benefits.
"The hundreds of Republican staffers — not to mention more than a few Members — who will lose their jobs in the next few weeks are going to face a hostile marketplace on K Street as unemployed Republicans flood the market," Kate Ackley writes for Roll Call.
"While GOP aides are flooding the town with their résumés, it’s now plugged-in Democratic aides whom companies and firms really have an eye for," the article continues.
The head of a lobbying firm that currently employs only Republicans tells the Capitol Hill newspaper, "It’s going to be more of a buyer’s market for Republican staffers and a seller’s market for the Democratic staffers."
Excerpts from Roll Call article:
One prominent lobbyist who hires Capitol Hill aides said that, in general, Republicans can expect to slash about $50,000 from what they might have commanded before the election returns came in. Yet, another lobbyist who runs his large firm said there are senior-level Democratic aides for whom he would offer as much as $600,000 in total compensation to lure them to his bipartisan shop because of simple supply and demand.
Veteran lobbyists and headhunters said some of the soon-to-be-unemployed aides and Members will find new jobs in the Bush administration, where a flurry of turnover is expected.
Some aides will look to fill other posts on the Hill, while others will catch on with trade associations, lobbying firms and corporate offices — though perhaps for a smaller salary than other Republicans commanded as little as six months ago.
But some probably will go on unemployment and some will end up leaving town altogether, K Street veterans said.
FULL ROLL CALL ARTICLE CAN BE READ AT THIS LINK