In times of economic recession, not only does the unemployment rate increase dramatically, but the underemployment rate is drastically affected as well. Unfortunately, there are many workers who would like the opportunity to work full-time, but settled for a part-time because they were unable to find a full-time job or their employer recently cut their hours. According to the Bureau of Labor Statistics, the number of involuntary part-time workers increased by 3.4 million over the past 12 months.
There is a large financial motivation for employers to hire part-time workers, which is likely the reason why there is an increasing demand for part-time workers. By making the decision to hire more part-time employees or reducing full-time employees down to part-time, employers are not obligated to cover benefits, saving the company valuable money.
What industries are currently hiring part-time employees?
There are many industries and roles that are more likely to experience an increase in demand for part-time positions in an economic downturn. Industries that typically hire on a consulting or outsourcing basis, such as IT, Accounting & Finance and Human Resources, will increase their part-time hiring strategy to reduce the risk associated with hiring full-time talent.
The increased number of part-time jobs is likely to have a greater impact on lower-level staff members. It is very rare for an organization to hire someone part-time that manages other workers. The positions that are hiring an increased number of part-time workers are typically supporting roles that are somewhat scripted and routine, such as Customer Service, Admin & Clerical, and Tech Support.
If you are a candidate searching for a part-time job, its best to research what industries have the most open positions. According to Beyond.com, the top three industries for part-time jobs in Q4 2008 were Information Technology (23.43%), Construction & Extraction (10.11%), and Clerical & Administrative (9.14%). Beyond.com also reported that the Southern region of the country is currently #1 for part-time jobs, representing 27.88% of all part-time jobs posted to the Beyond.com Network.
Whether or not a part-time job is your first choice, it’s nice to know there is one sector of the job market is fairing well in the poor economy. Besides, taking on a part-time position does have many benefits, including the ability to achieve to focus more on achieving a healthy work/life balance.
