Friday, October 17, 2008

Underemployment Numbers Reveal True Jobs Picture

Here's what the real jobs picture looks like according to the Economic Policy Institute:

The nation's growing jobless rate has gotten growing attention, but the full extent of employment woes has gone unrecognized. Economic analyst Nooshin Mahalia examined underemployment--a fuller measure of labor market slack.

Underemployment includes workers who involuntarily work part time as well as those who want a job but have stopped looking. Mahalia's analysis reveals that underemployment is at 11%, the highest it's been in 14 years. With 9.5 million unemployed workers, 6.1 million involuntarily part-time workers, and 1.6 million workers who are no longer looking for work, this measurement shows that the jobs crisis is worse than many realize.

1 comment:

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