http://m.stltoday.com/business/loca...5787-8c11-728935804376.html?mobile_touch=true
Increasing number of U.S. workers stuck in part-time jobs
WASHINGTON • The labor-market recovery that Federal Reserve Chair Janet Yellen seeks is proving incomplete as many U.S. workers languish in part-time jobs.
Forty-nine percent of people working less than 35 hours a week in 2012 and desiring full-time work were able to find such a position within a year, according to research by the Federal Reserve Bank of Atlanta. That's down from 61 percent in 2006.
In addition, the almost 3 million Americans unemployed for at least 27 weeks are more likely to accept part-time jobs than counterparts out of work for shorter periods, according to a Chicago Fed paper. That means underemployment, a hallmark of the slow and uneven recovery from the recession, won't quickly dissipate, backing policymakers such as New York Fed President William Dudley who counsel patience in removing stimulus.
Increasing number of U.S. workers stuck in part-time jobs
WASHINGTON • The labor-market recovery that Federal Reserve Chair Janet Yellen seeks is proving incomplete as many U.S. workers languish in part-time jobs.
Forty-nine percent of people working less than 35 hours a week in 2012 and desiring full-time work were able to find such a position within a year, according to research by the Federal Reserve Bank of Atlanta. That's down from 61 percent in 2006.
In addition, the almost 3 million Americans unemployed for at least 27 weeks are more likely to accept part-time jobs than counterparts out of work for shorter periods, according to a Chicago Fed paper. That means underemployment, a hallmark of the slow and uneven recovery from the recession, won't quickly dissipate, backing policymakers such as New York Fed President William Dudley who counsel patience in removing stimulus.
