TAG | underemployment
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Underemployment has doubled - Long Beach Press-Telegram
0 Comments | Posted by Marty Craigs in Jobs
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Underemployment has doubled
Long Beach Press-Telegram, CA Underemployment takes a broader look at the economy than official state unemployment figures because it also includes those who have given up on looking for a job or have been involuntarily reduced to part-time employment. Underemployment in the county … |
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Underemployment - Employed see tough times, too
0 Comments | Posted by Marty Craigs in Jobs
People who still have jobs are faring worse than at any time since the Great Depression, a USA TODAY analysis of employment data found. Furloughs, pay cuts and reduced hours are taking a toll on workers who so far have escaped job cuts.
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The statistic most often used to illustrate weakness in Washington State’s labor market is the unemployment rate, or the share of the labor force that is unsuccessfully looking for work. At the national level, the Bureau of Labor Statistics publishes a more comprehensive measure often called the “underemployment rate.” That measure includes people who have stopped looking for work because they have become discouraged. It also includes people who are working part-time because they can’t find fulltime work. During a recession, the gap between the two rates widens because of the increased difficulty of finding employment.
Read the full article here.
More than 760,000 people across New York are unemployed and looking for a new job, but that number only touches on the full impact of this economy. According to new labor numbers, more people who have jobs, need a better job just to get by. It’s called underemployment.
Learn more about the dilemma of underemployment in New York.
While the steady rise of the nation’s unemployment rate has become shorthand for the recession’s impact, many economists say the grim figures — 8.9 percent in April — don’t tell the whole story of Americans’ financial distress. While the plight of the jobless tends to dominate social policy conversations and media coverage, a less-exposed but equally vulnerable population is the millions of underemployed. This diffuse, often poorly tracked cross-section of citizens who bear the individual and collective challenges living on the economic fringes often go overlooked by policy makers and elected leaders.
Read more on the challenges underemployment presents in today’s economy.
Unemployment stats have made headlines in recent months. Many think that the unemployment rate is one of the best measures of the current state of the economy. When there’s money floating around, and people are using that money to buy more things, companies make and market more things, creating jobs. That is not the case right now. In April, according to the Bureau of Labor statistics employers took 2,712 mass layoff actions, laying off 271,226 workers. It’s a problem that gets a lot of press.
Read more on the issue of underemployment and how it is quietly impacting the economy.