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WASHINGTON (CBS4) ― "While the unemployment rate sits at nearly 10 percent, a new Gallup poll released Tuesday showed that nearly 20 percent of the U.S. workforce lacked adequate employment in January. The Gallup poll estimated that 30 million Americans are underemployed.
Underemployment is a different phenomenon than unemployment. Underemployment means workers may be employed, but not in a desired capacity whether it is due to compensation, hours, of level of skill and experience.
One of the many problems with underemployment is the workers in this category have less disposable income to spend on products which drive the economy. Underemployed people spent 36 percent less on household purchases in January, according to Reuters.
But despite the working conditions faced by the underemployed, Gallup found that 55 percent of those workers approve of President Obama's handling of the economy.
The official government numbers on underemployment are lower than Gallup's estimates. The Labor Department reported 16.5 percent of American workers were without employment or worked part-time for economic reasons in January."
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This doesn't count self-employed people who are without work. They don't qualify for unemployment and are under the radar.
I have a drywall contractor working here this week fixing some changes I made in my shop. He's been in business for almost 30 years and he's good. He told me he's had just 80 hours work in the past 3 months. I can give him about 20 more. He isn't on that list.
I still say that things are far worse than the gov't is admitting.
WASHINGTON (CBS4) ― "While the unemployment rate sits at nearly 10 percent, a new Gallup poll released Tuesday showed that nearly 20 percent of the U.S. workforce lacked adequate employment in January. The Gallup poll estimated that 30 million Americans are underemployed.
Underemployment is a different phenomenon than unemployment. Underemployment means workers may be employed, but not in a desired capacity whether it is due to compensation, hours, of level of skill and experience.
One of the many problems with underemployment is the workers in this category have less disposable income to spend on products which drive the economy. Underemployed people spent 36 percent less on household purchases in January, according to Reuters.
But despite the working conditions faced by the underemployed, Gallup found that 55 percent of those workers approve of President Obama's handling of the economy.
The official government numbers on underemployment are lower than Gallup's estimates. The Labor Department reported 16.5 percent of American workers were without employment or worked part-time for economic reasons in January."
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This doesn't count self-employed people who are without work. They don't qualify for unemployment and are under the radar.
I have a drywall contractor working here this week fixing some changes I made in my shop. He's been in business for almost 30 years and he's good. He told me he's had just 80 hours work in the past 3 months. I can give him about 20 more. He isn't on that list.
I still say that things are far worse than the gov't is admitting.