Underemployment In The U.S. Rises to 20.3% in March

[sunshine05]

Underemployment In The U.S. Rises to 20.3% in March

Underemployment In The U.S. Rises to 20.3% in March
Economics / US Economy
Apr 04, 2010 - 06:57 AM

By: Dian_L_Chu



Reports from the Labor Department today showed companies in the U.S. created more jobs in March than at any time in the past three years, showing the recovery is broadening and becoming more entrenched.

Payrolls rose by 162,000 workers, the most gain since March 2007, though the increase included 48,000 temporary Census workers. Unemployment remains at 9.7% for a third month.


Record Long-term Unemployed
Nevertheless, behind the rosy headlines, data from the Bureau of Labor Statistics also give a grim side of the employment picture.

The number of long-term unemployed (longer than 27 weeks) in March rose to more than 6.5 million. The percentage of people unemployed for 27 weeks or more also rose to a record 44.1% of all jobless.

The Labor Dept. figures also showed average earnings per hour dropped last month and the number of people working part-time because they couldn’t find full-time work increased.

A Rise in The Underemployed
The underemployment rate -- which includes the part-timers and people who want work but have given up looking - - increased to 16.9% from 16.8%, based on government data, seasonally adjusted.

However, the latest Gallup Daily tracking finds that 20.3% of the U.S. workforce was underemployed in March-- a slight uptick from the relatively flat January and February numbers. Gallup employment data are not seasonally adjusted. (See chart)



Gallup concludes its findings as follows:

As unemployed Americans find part-time, temporary, and seasonal work, the official unemployment rate could decline. However, this does not necessarily mean more Americans are working at their desired capacity. It will continue to be important to track underemployment -- to shed light on the true state of the U.S. workforce."

Meaningful Job Creation = More Budget Deficits
So what can be done?

Congress has extended unemployment benefits for longer periods to help workers cope. A jobs bill Congress recently passed gives employers a tax credit for hiring workers unemployed for two months or more.

Such credits don't actually create jobs. A new infrastructure program, for example, would certainly help the 24.9% unemployed Americans in the construction sector.

Unfortunately, any meaningful job creation programs would require more deficit spending on a new stimulus bill, which is politically impossible in an election year.

So, we are pretty much in the predicament as described by Secretary Geithner in a recent inteview at NBC’s "Today" show,

"[The unemployment rate] is still terribly high and is going to stay unacceptably high for a very long time,"

Overly Optimistic Markets?
Meanwhile, markets have turned increasingly bullish on economic growth sending the S&P 500 Index and the Dow Jones Industrial Average to their highest closes in 18 months.

Although the course of the economy and markets is generally heading towards the positive direction, the grim labor market outlook could come into play sooner rather than later, among some other downside risk factors. From that perspective, stocks may have been fully priced or even gotten ahead of themselves.

http://www.marketoracle.co.uk/Article18378.html

[Carl]

There is no such thing as "underemployment", it's just people trying to live above their means.

It just doesn't work................



.

[Gknowmx]

There is no such thing as "underemployment", it's just people trying to live above their means.

It just doesn't work................



.


What an ignorant statement. Does this mean you have given up the inflation/deflation issue as well?

[Carl]

There is no such thing as "underemployment", it's just people trying to live above their means.

It just doesn't work................



.


What an ignorant statement. Does this mean you have given up the inflation/deflation issue as well?

That's funny.

What does "underemployed" mean?

It means someone has lost their high paying job and can only find a low paying job to replace it, but they are still trying to maintain the debt levels they had with their high paying job in the hope that their high paying job will come back.

They are attempting to live above their means.

Been their, done that and I've seen 10's of millions of others go through the same thing over the past 40 years.

A few make it but most don't. In a year or two, they will adjust to their new reality and they too will be catagorized as plain old "employed" and life will continue to march foward as they labor to make ends meet in their new reality.

[Gknowmx]

There is no such thing as "underemployment", it's just people trying to live above their means.

It just doesn't work................



.


What an ignorant statement. Does this mean you have given up the inflation/deflation issue as well?

That's funny.

What does "underemployed" mean?

It means someone has lost their high paying job and can only find a low paying job to replace it, but they are still trying to maintain the debt levels they had with their high paying job in the hope that their high paying job will come back.

They are attempting to live above their means.

Been their, done that and I've seen 10's of millions of others go through the same thing over the past 40 years.

A few make it but most don't. In a year or two, they will adjust to their new reality and they too will be catagorized as plain old "employed" and life will continue to march foward as they labor to make ends meet in their new reality.



Like I said, an ignorant statement. So you admit that there is such a thing as "underemployed" as a waypoint to the destination of "employed". To get to this new reality, either they need to find a new environment to ply their labor status at the point of termination (or, gulp, better), or they need to change their expectations and except a new level of (lower) employment. Life is about choices Carl. Either you adapt to the world or you adapt the world to you.

Now, if you really strain your brain, you might make the leap that the issues of inflation/deflation are also about adjusting expectations on the road to just the right equilibrium state. "employed" and a balanced monetary policy are more rare than the opposite conditions that you seem to deny.

[Answer2me]

There is no such thing as "underemployment", it's just people trying to live above their means.

It just doesn't work................



.


What an ignorant statement. Does this mean you have given up the inflation/deflation issue as well?

That's funny.

What does "underemployed" mean?

It means someone has lost their high paying job and can only find a low paying job to replace it, but they are still trying to maintain the debt levels they had with their high paying job in the hope that their high paying job will come back.

They are attempting to live above their means.

Been their, done that and I've seen 10's of millions of others go through the same thing over the past 40 years.

A few make it but most don't. In a year or two, they will adjust to their new reality and they too will be catagorized as plain old "employed" and life will continue to march foward as they labor to make ends meet in their new reality.



Like I said, an ignorant statement. So you admit that there is such a thing as "underemployed" as a waypoint to the destination of "employed". To get to this new reality, either they need to find a new environment to ply their labor status at the point of termination (or, gulp, better), or they need to change their expectations and except a new level of (lower) employment. Life is about choices Carl. Either you adapt to the world or you adapt the world to you.

Now, if you really strain your brain, you might make the leap that the issues of inflation/deflation are also about adjusting expectations on the road to just the right equilibrium state. "employed" and a balanced monetary policy are more rare than the opposite conditions that you seem to deny.


Life inst about choices, its about learning life's lessons, and through learning you develop choices. This article is spun to make the situation look better than it is, any time you make up a word like underemployment you show your true colors.

[Gknowmx]

???

Uh, yeah.

How about the other way around, through choices you learn. Your first choice is to choose to think, or not.

[Answer2me]

to think is to learn. Its not a choice.

[BeefJerky]

I can tell you this, as an employer, alot of people think they are worth a hell of alot more than they are.

[Carl]

Like I said, an ignorant statement. So you admit that there is such a thing as "underemployed" as a waypoint to the destination of "employed". To get to this new reality, either they need to find a new environment to ply their labor status at the point of termination (or, gulp, better), or they need to change their expectations and except a new level of (lower) employment. Life is about choices Carl. Either you adapt to the world or you adapt the world to you.

Now, if you really strain your brain, you might make the leap that the issues of inflation/deflation are also about adjusting expectations on the road to just the right equilibrium state. "employed" and a balanced monetary policy are more rare than the opposite conditions that you seem to deny.
No, what is "ignorant" is you wanting to personally attack me me over this, especially when all you've done is rephrase what I said and repeated it.

Yep, life is about choices and I guess you've decided to become that annoying little yapping chihuahua, steadily barking at me while backing up. I guess you figure if you use more words to express the same thing and add totally unrelated crap to it, you'll come off as being more impressive. Well tell me something, who do you believe you're impressing?

[Gknowmx]

Like I said, an ignorant statement. So you admit that there is such a thing as "underemployed" as a waypoint to the destination of "employed". To get to this new reality, either they need to find a new environment to ply their labor status at the point of termination (or, gulp, better), or they need to change their expectations and except a new level of (lower) employment. Life is about choices Carl. Either you adapt to the world or you adapt the world to you.

Now, if you really strain your brain, you might make the leap that the issues of inflation/deflation are also about adjusting expectations on the road to just the right equilibrium state. "employed" and a balanced monetary policy are more rare than the opposite conditions that you seem to deny.
No, what is "ignorant" is you wanting to personally attack me me over this, especially when all you've done is rephrase what I said and repeated it.

Yep, life is about choices and I guess you've decided to become that annoying little yapping chihuahua, steadily barking at me while backing up. I guess you figure if you use more words to express the same thing and add totally unrelated crap to it, you'll come off as being more impressive. Well tell me something, who do you believe you're impressing?




This ain't GIM Carl. I have attacked your position as ignorant, not you personally. Do I know you personally? No. Do I address your avitar 'personally'? Yes, when you post I address you straightup, I don't worship your claptrap, I challenge it and I do it openly; I don't hide behind anonomous 'karma/smite' tallies. Furthermore, as we start fresh, for the few that dare come to the sub-forum that is meat of a 'gold-silver' site, what folks are going to see quickly is that the Carl avitar is a mouthy and clever technician but once anyone punches through the thick shell, there isn't much left.

I love it when you start out a post claiming to be wounded by a purported personal attack as justification to lauch your own invictive. As long time GIM readers know, I could care less about your cute attack logic. It sells good copy though, and it makes it easy for me because I leverage your colorful commentary with an undeterred focus on the fundamentals.

I don't post to get your approval Carl, next time you see your avitar, tell it to get over itself. This is a public forum, I have no idea who I am impressing. If I wanted to annoy you, if I worshipped you, I would sent you a private PM, seeking either validation or offerring you a chance for redemption where you could privately agree with me without shame. Instead, I post my positions here where all can challenge all, not just you and I challenging each other.

"Backing up"? I don't backup.. that is why I lost all my GIM archives... ;D

[BoatingAccident]

There is no such thing as "underemployment", it's just people trying to live above their means.

It just doesn't work................



.


Hey Carl, I'm underemployed right now. I'm a blue collar guy, as long as I get 20 hours a week, I can easily pay my way.

This is our slow time, I'm grateful to get that 20 hours a week.


I'd like more hours, but it's not my choice. Just so you know...there's folks honestly willing to work more, but it's not an option.

[Book]

I can tell you this, as an employer, alot of people think they are worth a hell of alot more than they are.


Their egos are not underemployed...lol.

;D

[Carl]

This ain't GIM Carl. I have attacked your position as ignorant, not you personally. Do I know you personally? No. Do I address your avitar 'personally'? Yes, when you post I address you straightup, I don't worship your claptrap, I challenge it and I do it openly; I don't hide behind anonomous 'karma/smite' tallies. Furthermore, as we start fresh, for the few that dare come to the sub-forum that is meat of a 'gold-silver' site, what folks are going to see quickly is that the Carl avitar is a mouthy and clever technician but once anyone punches through the thick shell, there isn't much left.

I love it when you start out a post claiming to be wounded by a purported personal attack as justification to lauch your own invictive. As long time GIM readers know, I could care less about your cute attack logic. It sells good copy though, and it makes it easy for me because I leverage your colorful commentary with an undeterred focus on the fundamentals.

I don't post to get your approval Carl, next time you see your avitar, tell it to get over itself. This is a public forum, I have no idea who I am impressing. If I wanted to annoy you, if I worshipped you, I would sent you a private PM, seeking either validation or offerring you a chance for redemption where you could privately agree with me without shame. Instead, I post my positions here where all can challenge all, not just you and I challenging each other.

"Backing up"? I don't backup.. that is why I lost all my GIM archives... ;D


You want some cheese to go with that whine?


.

[Carl]

There is no such thing as "underemployment", it's just people trying to live above their means.

It just doesn't work................

.


Hey Carl, I'm underemployed right now. I'm a blue collar guy, as long as I get 20 hours a week, I can easily pay my way.

This is our slow time, I'm grateful to get that 20 hours a week.


I'd like more hours, but it's not my choice. Just so you know...there's folks honestly willing to work more, but it's not an option.
Well good for you.............

[Horn]

http://www.youtube.com/watch?v=gTv7rijY2Vg