Jeff Cox — Why Underemployment May Be Worse Than It Looks

But what often doesn't get as much attention [as the BLS report] is the monthly labor count that the experts at Gallup conduct.

Gallup reports that 17.2 percent of the workforce is underemployed, a startling number compounded by its divergence from the government's count. While the rate is down from the 20.3 percent peak in March 2010, it has remained maddeningly high over the past three years even as economists tout the strength of the U.S. economic recovery.

From a broader perspective, the Gallup measure actually has increased from its 15.9 percent multi-year low in October 2012.

CNBC NetNet
Why Underemployment May Be Worse Than It Looks
Jeff Cox | Senior Writer

See also Ashe Schow, Recovery woes: America's second-largest employer is a temp agency at the Washington Examiner.

Behind Wal-Mart, the second-largest employer in America is Kelly Services, a temporary work provider.

Friday's disappointing jobs report showed that part-time jobs are at an all-time high, with 28 million Americans now working part-time. The report also showed another disturbing fact: There are now a record number of Americans with temporary jobs.

Approximately 2.7 million, in fact. And the trend has been growing.

No benefits. No unions. No bargaining power. Labor at the beck and call of capital. The neoliberal dream is replacing the American dream and becoming the American nightmare.