Under-employment up as unemployed take on part-time jobs
POSTED: Friday, February 18, 2011 - 2:51pm
UPDATED: Friday, February 18, 2011 - 4:34pm
New Gallup numbers out now show that the job situation in America hasn't really improved all that much since last year.
The poll shows the unemployment rate at just under 10%, but even more startling is the under-employment rate.
Under-employed people are those who are working part-time, but are still looking for full-time work.
Gallup shows this number to be at a staggering 20%, which is about the same as February of last year. Such a high number is blamed on the fact that unemployed people have been forced to take on part-time jobs after being without work for so long.
This is not very good news for a time when the economy is supposed to be improving.
Before the recession, a 5% unemployment rate was considered "normal"; but because unemployment has been above 9% for more than 21 months now, economists are saying that a 7% unemployment rate might be "the new normal".