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Underemployment is a problem particularly in developing countries, where the unemployment rate is often quite low, as most workers are doing subsistence work or occasional part-time jobs. In 2011, the global average of full-time workers per adult population was only 26%, compared to 30–52% in developed countries and 5–20% in most of Africa.
The steady employment gains in recent months suggest a rough answer. The unemployment rate has been 7.9 percent, 7.8 percent and 7.8 percent for the past three months, while the labor force participation rate has been 63.8 percent, 63.6 percent and 63.6 percent. Meanwhile, job gains have averaged 151,000.
For young high school graduates, the unemployment rate is 29.9% (compared with 17.5% in 2007) and the underemployment rate is 51.5% (compared with 29.4% in 2007). For young college graduates, the unemployment rate is 8.8% (vs. 5.7% in 2007) and the underemployment rate is 18.3% (vs. 9.9% in 2007). Job openings relative to unemployed
Underemployment has been as much a frustrating feature of the recent job market as the nation's high unemployment rate. What makes a worker underemployed? A number of a factors, including the ...
The underemployment rate in May was 21.2 percent, while the unemployment rate was 13.3 percent. What is the difference between unemployment and underemployment? Skip to main content
With the unemployment rate holding steady at 9.7% in February, after dropping from 10% in January, confidence is growing that the job market is finally turning around. But as with all statistics ...
The state of being without any work yet looking for work is called unemployment. Economists distinguish between various overlapping types of and theories of unemployment, including cyclical or Keynesian unemployment, frictional unemployment, structural unemployment and classical unemployment definition.
Underemployment is the underuse of a worker’s skills, education or availability, a predicament that often results in diminished financial gains and professional stagnation, said Sophia Tang ...