A Comment About

Unemployment Can Be a Good Thing

May 5, 2008 - 12:00 am - by Tim Worstall
Andrew
2008-05-05 07:33:08

I’m sorry I thought I was a poster not an article writer. I am however a labor economist and can say with some certainty that underemployment has risen significantly in the past 10 years. There has been substantial decline in the American manufacturing industry and a large increase of lower paying service sector jobs which provide little to no benefits. The tremendous increase of temp positions is the clearest example of underemployment. Far more than half of all temp workers would prefer a permanent position and are unhappy with their situation. Nearly one-third of all new jobs added to the US economy are temp positions and nearly all of them provide no benefits and most do not lead to permanent positions. And as a resident of Michigan I know all to well about workers accepting pay cuts to keep their jobs. It seems to happen almost every week in this state.