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by Patrick Gillespie @CNNMoney April 25, 2016: 1:25 PM ET
americas hidden job problem
America has a huge part-time workforce problem.
And it’s Worry Number One for Federal Reserve Chair Janet Yellen.
She has talked about part-timers at each of her last three press
conferences, at nearly every speech in the last six months and at both
of her past two testimonies to Congress.
Yellen’s worries stem from the fact that the part-time U.S. workforce
is at “very high levels.”
Excluding the Great Recession, the 6 million Americans who work
part-time but want full-time jobs today are at the highest level in
about 30 years or so. The number has come down since its peak during
the recession but some experts believe America now has a “new normal”
— a permanently high number of part-timers.
Experts call these jobs “hidden unemployment” because these people are
capable of working more hours than they can get.
It’s a tough situation. About 25% of part-time workers lives in
poverty, according to a study by Rebecca Glauber, a professor at the
University of New Hampshire. Only 5% of full-timers live in
poverty.
Many part-timers are paid less per hour than full-time workers with the
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