Definition
The count of individuals who worked less than 35 hours per week during the past 12 months. This includes those working part-time voluntarily or due to economic reasons.
Why It Matters
Indicates flexibility in the labor market, but can also signal underemployment or economic hardship if part-time is due to economic reasons. It highlights a segment with potentially different income and consumption patterns.
Specific Relevance for Professionals:
Marketers
Helps identify markets for products and services catering to individuals with more flexible schedules or those seeking supplementary income, or who prioritize affordability due to lower earnings.
Researchers
Fundamental for studying labor market flexibility, underemployment, and the economic conditions of part-time workers, and the impact of part-time work on household income and well-being.
Consultants
Useful for advising clients on workforce strategies that incorporate part-time roles, or for businesses targeting consumers with more flexible schedules or specific affordability needs.
Public Policy Workers
Important for understanding labor market underutilization, designing workforce development programs, and informing policies related to minimum wage, benefits, and job quality for part-time workers.
