The Wall Street Journal has published this insightful piece on underemployment — a burgeoning trend of people in jobs that are under their skill level or people in multiple part-time jobs who want full-time work. If you factor in the underemployed, the jobless rate is a staggering 17.5%.
This means that nearly one in five people are either unemployed, involuntarily working part-time or “marginally attached” — they want jobs but haven’t searched in at least a month. It also counts “discouraged workers” who have stopped searching.
“The number would be much higher if we included the mechanical engineers working at 7-Eleven,” says Heidi Shierholz, who studies underemployment at the Economic Policy Institute, a left-leaning Washington think tank.