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Workers Losing Hours as Economy Tightens

Jobless figures don't reflect part-time jump

By Jim O'Neill,  Newser User

Posted Jul 31, 2008 7:44 AM CDT
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(Newser) – US joblessness stands at a moderate 5.5%, but more than 3.7 million workers have seen their hours cut from full-time to part-time over the last year, shrinking their paychecks even as gas and food prices soar, reports the New York Times. That's the highest figure in the half-century these cuts have been tracked by the government, bringing the total number of involuntary part-time workers to 5.3 million last month, some 3.7% of the workforce.

Among those losing hours over the last year, 73% were men and 35% were Hispanic.
“The change in working hours is the canary in the coal mine,” a University of Chicago employment expert tells the Times. “First you see hours get short, and eventually more people will get laid off.”

Adam Richard, 23, help a customer Monday, June 30, 2008, at his part time job at Ned's Book Store in East Lansing, Mich.
Adam Richard, 23, help a customer Monday, June 30, 2008, at his part time job at Ned's Book Store in East Lansing, Mich.   (AP Photo/Al Goldis)
A sales clerk wheels a rack of men's shirts she will restock at the Building 19 discount store in Pembroke, Mass.
A sales clerk wheels a rack of men's shirts she will restock at the Building 19 discount store in Pembroke, Mass.   (AP Photo/Stephan Savoia)
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Wall Street starting to hire ... slowly
CNN

White-collar workers still in demand
Florida Times-Union

 
layoffs • unemployment • Department of Labor • economy • part-time jobs

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