On February 17th, Gallup released a charttracking underemployment from January 2010 to February 15th2012. Gallup calculates underemployment by combining the percent of workers who are unemployed with the percent of workers who are employed at part-time jobs but who have a desire to work full-time. While this number has dropped from the 20.3% recorded this time two years ago to 19.0% in mid-February 2012, the measure is up significantly from the mid-January figure of 18.0%. Gallup notes that seasonal factors tend to increase both unemployment and underemployment at this time of year; however, the research organization noted that “underemployment measures show a sharp deterioration in job market conditions since mid-January.” This increase in underemployment is also consistent with the drop off in Gallup’s Job Creation Index from +16 in January to +13 in mid-February.
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