In the darkest days of the financial crisis economists were predicting the unemployment toll would reach 3m. Thankfully, those fears never materialised, with joblessness peaking at around 2.7m.
However, the side effect of containing the jobs figures well below 3m has resulted in swathes of people working part-time or reduced hours because they cannot find a full-time job.
More than 1m people in Britain are “part-timers”, not because they want to be, but because they cannot find anything else. Employers are reluctant to take on full-time staff.
Official figures on Wednesday show the number of underemployed – those who want to work more hours – hit a total of 3.05m in 2012.
The 3.05m underemployed represents around 1 in 10 of the 29.41m people in work, giving an underemployment rate of 10.5pc…
Choosen excerpts by Job Market Monitor from
via Underemployment is the double-edged sword of a flexible jobs market – Telegraph.
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