New research from @DanielAlpert @rch371 @Menloferry suggests underemployment is costing the economy the equivalent of 12m jobs. That is massive! 1/ https://qz.com/1752676/the-job-quality-index-is-the-economic-indicator-weve-been-missing/

They have a new KPI (oooh an index) that measures the ratio of "high" quality jobs to "low" quality jobs, which has been moving in the wrong direction since manufacturing left the US. But more interesting to me is if these "low" quality jobs simply offered more hours... 2/

"Low" quality jobs provide ~30 hrs a week of employment. If they gave the same hours as "high" quality jobs or ~40, weekly wages would increase by 69%! That is MASSIVE 3/

https://www.jobqualityindex.com/ 

We already know thanks to @dannyjschneider and @Shift_UCB that 33% of hourly workers are INVOLUNTARILY working part time. This new research quantifies the impact to their wages from part time work 4/

This is what's happening at record low unemployment, but record high UNDERemployment. Goods-producing jobs are not likely to come back anytime soon. We need another way for workers to make a better weekly wage. That's the problem I'm excited to solve end/