The Washington Post reports that “businesses are starting to cut workers’ hours, forcing hundreds of thousands of people into part-time roles, in what could be an early warning sign for the economy.
“The number of people who worked part time, but want to work full time, rose by 452,000 in June, the biggest jump in more than three years, according to the Bureau of Labor Statistics. In all, 4.2 million people were employed part time for economic reasons beyond their control, a 12 percent increase from the month before.
“Economists warn against making too much of a single data point, but say the latest spike in involuntary part-time work could be a harbinger of layoffs to come, especially when combined with other signs of slowing in the job market.”
The Post writes that “in interviews with nearly a dozen people whose employers recently shortened their hours, all said it was the result of slowing sales. Most worked in service jobs – fast-food joints, grocery stores, hair salons – where schedules can be easily redrawn to keep up with demand. But in at least two instances, office workers said drops in revenue had forced their employers to shorten workers’ hours across the board.”
KC’s View:
Which would be a blow to workers who have spent the last few years holding the upper hand when dealing with employers.
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