Republican Economics Model Creates New Category: Involuntary Part-Time Work. Gee, Thanks for Giving Us More Free Market Choices

I’m so depressed by the following report, maybe you shouldn’t read it….

The Economic Policy Institute:

We interrupt the financial meltdown to remind you that the nation’s payrolls have been contracting for nine months in a row.

The nation's employers continue to cut payrolls, with jobs down by 159,000 in September, the ninth consecutive month of job losses according to today's report from the Bureau of Labor Statistics.

Unemployment was unchanged over the month, as an increase in the number of the jobless (up 101,000) was offset by a decline in the labor force (down 121,000).

Another words: because there were 121,000 fewer job openings, that number is subtracted from the rise in jobless, painting a really depressing picture for American workers.

The underemployment rate, a more comprehensive measure of job-market slack, jumped to 11%, the highest level since in over 14 years. As of last month, one in nine persons is either unemployed or underemployed.

Two serious problems in today’s job market are 1.) The lack of job creation, along with increased layoffs, means that job seekers are stuck in unemployment and unable to find work, and 2.) Over 6 million workers who have kept their jobs are unable to find their desired hours of work.

Involuntary part-time work—is evident in the increase in the number of persons working part-time who would prefer full-time work, up over 300,000 since last month and 1.6 million over the past year. Over 6 million workers were involuntary part-timers last month, the highest number since December 1993.

The new term for me this month, is INVOLUNTARY PART-TIME WORK.