Part-Time Work Becomes Full-Time Wait for Better Job
Although our economy has generated thirty straight months of job growth, many of these jobs just consist of part time jobs rather than those who are mostly looking for a full time position. About fourteen percent accounts for the involuntary part timers and people who want to work but have stopped looking, because they are accepting part-time pay because they have no other choice. The only markets that are particularly hiring are low-wage service jobs that include retail, home health care, and food preparation, which can explain why household incomes have fell in the latest report. Since the recession, three percent of workers have increased to working fewer than thirty-five hours, from about sixteen percent to nineteen percent. Many employers are competing with one another to receive more hours, but managers cannot afford to be paying everyone the hours that they actually want.
This overall trend of an increasing number of part-time employees rather than full-time can have negative effects on our economy. Due to a lower income, this may force decrease the overall consumer spending. With a lower spending, companies will not make as much sales that could also potentially lead to a decrease in hiring a certain number of workers.
Written by : Samantha Chin
Source: The New York Times