[JohnFen]

Always negotiate.

The only effect the job market has on negotiations is it can lower the upper limit of what you can get out of it. But you should always negotiate, because if you don't, you'll almost always be getting less than you're worth regardless of market conditions.

[paulcole]

If you absolutely positively can’t afford to lose an offer then don’t negotiate. Take the offer. It doesn’t matter if you’re accepting “less than you’re worth” (a nonsense phrase if there ever was one) when you absolutely positively can’t afford to lose an offer.