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View Diary: Initial applications for jobless compensation seem to be on a new plateau. But what does it mean? (49 comments)

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  •  In addition to the hiring caveat, there is one... (1+ / 0-)
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    Eric Nelson

    ...other: the percentage of people working part-time remains very high, though it, like the overall unemployment rate has come down. And that "part-time for economic reasons" category probably only includes a small portion who are afflicted by furloughs because most report themselves as full-time workers even though they really aren't.

    Don't tell me what you believe, show me what you do and I will tell you what you believe.

    by Meteor Blades on Thu Sep 26, 2013 at 10:44:28 AM PDT

    [ Parent ]

    •  This is a vexing one... (1+ / 0-)
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      "Part time for economic reasons," as a percentage of the population and as a percentage of the labor force, rose significantly in the wake of the 2007--09 recession to about the same high level as was seen during the years following the 1980-80 "double dip" and 1991 recessions, as well as a couple recessions in the late 1950s/early 1960s.  While it has come down a bit, it remains elevated.  However, the "part time for economic reasons" category remained relatively low, as a percentage of the same, after the 1970 and 2001 recessions and didn't spike nearly as much after the 1973 recession.  I don't know how much underreporting there is in this category, but there must be some characteristic that differentiates the the first group of recessions above (where part time for economic reasons rises significantly) from the second group (where that category remains subdued).  I have no idea what that characteristic might be.

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