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Category: Employment and Jobs
Date: 14 April 2020 We take a look at an article published by the Bureau of Labor Statistics that shows that in March 2020 there was a significant spike in part time employment as workers number of hours employed declined and those looking for full time employment could only find part time jobs.
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Number of people employed part time for economic reasons up 1.4 million in March 2020
In March 2020, 5.8 million workers were employed part time for economic reasons, an increase of 1.4 million from the previous month. These workers, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs.
Number of people employed part time for economic reasons, January 2000 to March 2020
Virtually all of the increase in the number of people who were employed part time for economic reasons occurred in the slack work component—that is, among workers who indicated their reason for working part time was slack work or business conditions. There was little change in the number of part-time workers who indicated they could only find part-time work. The over-the-month increase in people working part time for economic reasons as particularly large among workers in accommodation and food services and among the self-employed. These data are from the Current Population Survey and are seasonally adjusted.
Looking at the overall unemployment levels the BLS reported the following for March 2020.
Total nonfarm payroll employment fell by 701,000 in March, and the unemployment rate rose to 4.4 percent, the U.S. Bureau of Labor Statistics reported today. The changes in these measures reflect the effects of the coronavirus (COVID-19) and efforts to contain it. Employment in leisure and hospitality fell by 459,000, mainly in food services and drinking places. Notable declines also occurred in health care and social assistance, professional and business services, retail trade, and construction.
Total nonfarm payroll employment fell by 701,000 in March, and the unemployment rate rose to 4.4 percent, the U.S. Bureau of Labor Statistics reported today. The changes in these measures reflect the effects of the coronavirus (COVID-19) and efforts to contain it. Employment in leisure and hospitality fell by 459,000, mainly in food services and drinking places. Notable declines also occurred in health care and social assistance, professional and business services, retail trade, and construction.
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