Workers who would like to work more.A good rough and ready measure is the difference between the unemployment rate and the unemployment rate of those looking for full time work. When the latter is higher than the former, it is a sign that underemployment remains an issue:Graph: Gap between unemployment rate of those looking for full time work and the total rateThe unemployment rate of those looking for full time work is 0.13 percentage points higher than the total rate, but again, things here have improved since the middle of last year.This improvement is also reflected in the number of hours worked on average by the adult population.In the middle of last year, the percentage of the adult population employed was rising, but the hours worked on average each month was not. Now they are both rising:Neither measure is anywhere near its peak of June 2008, but given our ageing population it is unlikely those peaks will ever again be reached.
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