Sunday, September 04, 2011

Unemployed face tough competition: underemployed - Yahoo! News

Unemployed face tough competition: underemployed - Yahoo! News: "The job market is even worse than the 9.1 percent unemployment rate suggests.

"America's 14 million unemployed aren't competing just with each other. They must also contend with 8.8 million other people not counted as unemployed — part-timers who want full-time work.

"When consumer demand picks up, companies will likely boost the hours of their part-timers before they add jobs, economists say. It means they have room to expand without hiring.

"And the unemployed will face another source of competition once the economy improves: Roughly 2.6 million people who aren't counted as unemployed because they've stopped looking for work. Once they start looking again, they'll be classified as unemployed. And the unemployment rate could rise."

As one of the 2.6 million not currently looking, come October, I will be officially unemployed again as I come off the bench to start looking for a new writing contract after taking some time off to be a full time Dad. I hate articles like this, but it seems like most of the time over the past decade when I've been looking for work the job market has been in a pretty dire state and I've always done well. Hope that streak holds in October.

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