Under-employed Workers
CBS
Transcript
on the CBS News money watch tonight it is getting harder to find a job the government said today that unemployment Rose last month to 5.7% that's the highest rate in four years and the economy lost another 51,000 jobs that's 463,000 so far this year and more than 5 million people were working part-time jobs because that's all they could get Kelly Koba now on the underemployed okay I did this uh patio area over here with my free time Carlos Campo has plenty of work lately the problem is it's all in his own home he's a carpenter in Florida where the construction boom has gone bust have you gotten any nibbles he here and there I get a offer but it only last like two two weeks and then I lose my job again I got to reapply for unemployment as a result campo's income dropped from $45,000 last year to1 19,000 this year while the cost of food and utilities Rose do you worry about paying those bills every day bill collectors call me every day the number of people like Campo working part-time grew by 308,000 this month year toe the number of part-time workers is up 1.4 million that includes people who need the extra income and those who want to work full-time but can't find a full-time job businesses a cautious about hiring and they're trying to cut their labor costs any way they can and so that's going across across the board and it's reducing the number of full-time workers it's reducing overtime it's just reducing the average work week and it's increasing the number of workers in search of a second paycheck just to make ends meet that means even more competition for fewer jobs Kevin Lloyd is a fiber optics engineer looking for work any work since September I mean even if it's not in the field I'm in it's still you know if somebody's laid off from working at a fast food place they might try and get a job I'm going for a job that for Carlos Campo could save the family home he can't afford the mortgage and can't find a buyer yeah I look for a job every day but I can't I can't find a job let's hope it gets better before his finances get worse calob CBS News hiia Florida