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So the average worker is currently only getting ~33 hours per week. And even those who want full-time work are being counted as employed. Via EconomPic.
Most hours worked graphs conflate population and unemployment data with ‘hours worked data’. The data base should be limitted to hours worked by employed full time workers. That data base will give you a clearer picture of capacity in the existing empolyment metric that is not backward looking and will allow you interpret the change in the unemploymnet number with regard to predicting when job formation by turn positive. If the metric is conflated by including part time workers and general demographic changes in population you obfuscate the meaning of the data.
this graph is misleading.
I think what you are seeing in this graph is not a secular trend towards involuntary unemployment, but rather structural changes in the workplace. With more two-earner households, it makes sense that each individual in the household would work less hours, when compared with the one-earner, one-homemaker households more common in 1964.
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