In the U.S approximately 7.3 million Americans have been forced into part-time employment, even if they are willing to work full time, as a result of the economic downturn.

With a staggering 6.7 percent unemployment rate reported in November, part- time workers now account for 5 percent of the total U.S. workforce, a record high not seen in 15 years.

According to the Labor Department, 7.3 percent of employees’ working hours have been reduced to part-time employment or the only available work they can find is part-time.

Richard Moody, chief economics of Mission Residential in Texas has said that the high rise in the number of part-timers or unemployed is a red flag indicator that the job market is headed for the worst. He predicts that the number of part-time employees with continue to rise by 9 percent by the end of 2008.

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