Thursday, December 16, 2010

Underemployed at Record High Too

Not only are the long-term unemployed at a record high, but so are the underemployed. The most recent issue of the Monthly Labor Review has an analysis of the nation's underemployed. Underemployment is defined as people employed part-time for economic reasons, meaning they cannot find a full-time job or their work hours have been cut because of slack demand. In the fourth quarter of 2009, both the number of underemployed (8.9 million) and the incidence of underemployed (6.3 percent of all employed persons) was greater than in any previous quarter for the past 61 years.

Source: Bureau of Labor Statistics, Monthly Labor Review

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