- Economists have discovered that record-low US and UK unemployment masks “involuntary” part-time work.
- Involuntary part-timers are workers who seek full-time jobs but are forced into part-time work.
- In the US, involuntary part-time work is 40% higher than it was the last time official unemployment was around 4% (August 2000).
- Federal Reserve Bank of San Francisco: “This represents about 1.4 million additional individuals who are stuck in part-time jobs”.
- Part-time “gig” jobs (eg Uber, food-delivery) have worsened the trend by replacing full-time jobs.
