Tuesday, September 7, 2010

Millions can find only part-time or lower-paying jobs

Underemployment is still a huge problem from LA Times.  This affects incomes, which effects rents and housing prices.

The lack of full-time work is both a hardship for individuals and their families and a substantial drag on the still-feeble recovery. With consumer spending accounting for 70% of the nation's total economic activity, having millions of underemployed workers means a loss of economic vitality — along with lower tax revenues and more budget problems for governments at every level
The number of involuntary part-timers — who on average worked just 23 hours a week in the second quarter — had been easing down since spring but rose again in August. The figure is double the pre-recession level and the highest since record-keeping began in 1955

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